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

Author Question: What is the profit-maximizing condition for the use of any factor of production?(Where MP = marginal ... (Read 106 times)

Austinleez3

  • Full Member
  • ***
  • Posts: 158
on: Oct 12, 2022

What is the profit-maximizing condition for the use of any factor of production?
(Where MP = marginal product, w = the price of a factor of production, p = price of one unit of the firm's output, MR = marginal revenue, MC = marginal cost, MRP = marginal revenue product.)


◦

MR = 


◦ MC = MR × w
◦ MRP = MR × MC
◦ MRP = MP × p
◦ w = MP × p
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Austinleez3 on Oct 12, 2022

Afvelasquez

  • Full Member
  • ***
  • Posts: 193
Reply #1 on: Oct 12, 2022
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 39% of students answer this correctly


Austinleez3

  • Member
  • Posts: 158
Reply 2 on: Oct 12, 2022
Gracias!

Dnite

  • Member
  • Posts: 297
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

The epidermal growth factor (EGF) pathway that promotes cell division The epidermal growth factor (EGF) pathway that promotes cell division
Cholelithiasis. Common sites of gallstones in the generalized condition. (a) Stones in the hepatic d Cholelithiasis. Common sites of gallstones in the generalized condition. (a) Stones in the hepatic d
How to factor by grouping How to factor by grouping
Human of the planet's net primary production and appropriation of NPP Human of the planet's net primary production and appropriation of NPP
As the world’s population continues to grow, demands on limited resources for food production As the world’s population continues to grow, demands on limited resources for food production
Which of the following is not a unit factor related to a 15.0% aqueous solution Which of the following is not a unit factor related to a 15.0% aqueous solution
Video: Rods and Cones Animation

For a complete list of videos, visit our video library