Author Question: Which of the following describes how output changes in the short run? Because of specialization and ... (Read 57 times)

kodithompson

  • Hero Member
  • *****
  • Posts: 566
Which of the following describes how output changes in the short run? Because of specialization and the division of labor, as more workers are hired
 
  A) output will first decrease at an increasing rate, then increase at a decreasing rate.
  B) the marginal product of labor will first be negative and then will be positive.
  C) output will first increase at an increasing rate, then output will increase at a decreasing rate.
  D) the marginal product of labor will first decrease, then increase at a decreasing rate.

Question 2

Consumers in a monopolistically competitive market do not receive any consumer surplus because the price paid for the product exceeds the marginal cost of production.
 
  Indicate whether the statement is true or false


dyrone

  • Sr. Member
  • ****
  • Posts: 322
Answer to Question 1

C

Answer to Question 2

FALSE



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

For a complete list of videos, visit our video library