« previous next »

Author Question: If a firm fired one worker and lost 12 units of production and decides to add one more unit of ... (Read 100 times)

lracut11

  • Hero Member
  • *****
  • Posts: 536
on: Jul 1, 2018
If a firm fired one worker and lost 12 units of production and decides to add one more unit of capital, then to remain on the same isoquant what must be TRUE?
 
  A) The MPK of the next unit of capital added equals 12.
  B) The firm must force the other workers to work more.
  C) The firm will experience a decline in output.
  D) The marginal rate of technical substitution is greater than 12.

Question 2

Two firms sell 100 orange juice in 10 ounce bottles. The juice is only good for one week. The two firms have contracts for all the oranges produced in a large geographic area. Each firm decides how many bottles of juice to produce at the same time.
 
  This market is best described with a A) Bertrand model.
  B) Stackelberg model.
  C) monopolistic competition model.
  D) Cournot model.


daiying98

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

lracut11

  • Hero Member
  • *****
  • Posts: 536
Reply #2 on: Jul 1, 2018
Thank you


daiying98

  • Sr. Member
  • ****
  • Posts: 354
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

An Estimate of the Time of Global Peak Conventional Oil Production An Estimate of the Time of Global Peak Conventional Oil Production
Ben Jones, Black Face and Arm Unit. Ben Jones, Black Face and Arm Unit.
This five-wire mass air flow sensor consists of a metal foil sensing unit, an intake air temperature ... This five-wire mass air flow sensor consists of a metal foil sensing unit, an intake air temperature ...
Conventional oil reserves have passed peak production Conventional oil reserves have passed peak production
Sports drinks can replace electrolytes and fluids lost during exercise Sports drinks can replace electrolytes and fluids lost during exercise
A comparison of sperm production and egg production in humans A comparison of sperm production and egg production in humans
Video: Anatomy and Chemical Makeup of a Single Hair (Animation)

For a complete list of videos, visit our video library