This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Firms will employ each input up to the point that its price equals its marginal revenue product. (Read 47 times)

tichca

  • Hero Member
  • *****
  • Posts: 554
on: Apr 19, 2019

Question 1

A firm is currently hiring capital and labor so that 
MPL/
PL > 
MPK/
PK, if the firm wishes to maximize profits it should hire


◦ less labor and less capital.
◦ more capital and more labor.
◦ more labor and less capital.
◦ less labor and more capital.

Question 2

Firms will employ each input up to the point that its price equals its marginal revenue product.


◦ true
◦ false
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by tichca on Apr 19, 2019

heinisk01

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 49% of students answer this correctly


tichca

  • Member
  • Posts: 554
Reply 2 on: Apr 19, 2019
:D TYSM

shailee

  • Member
  • Posts: 392
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Firms Incorporated into U.S. Steel Firms Incorporated into U.S. Steel
Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ... Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ...
Closed and Open Food Product Dating Closed and Open Food Product Dating
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product
. Calculate the net electric field at point B . Calculate the net electric field at point B
Video: Types of energy transfer reactions: oxidation-reduction reactions and ATP generation reactions

For a complete list of videos, visit our video library