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

Author Question: In an unregulated competitive market, the presence of marginal external benefit from a good or ... (Read 118 times)

vicotolentino

  • Hero Member
  • *****
  • Posts: 552
on: Jun 29, 2018
In an unregulated competitive market, the presence of marginal external benefit from a good or service results in overproduction.
 
  Indicate whether the statement is true or false

Question 2

Assume that for whatever reason there is a manufacturing firm exhibits a constant marginal product of labor over a certain range of production.
 
  Armed with only this information what would you be able to say about the average product and total product of labor curves of this firm.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Viet Thy

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

The marginal product curve and the average product curve would be one and the same and would have a horizontal shape of the relevant production range. The total product function would be an upward-sloping linear function.


vicotolentino

  • Member
  • Posts: 552
Reply 2 on: Jun 29, 2018
Gracias!

LVPMS

  • Member
  • Posts: 323
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Feedforward events can be conditioned to external stimuli. Feedforward events can be conditioned to external stimuli.
Examples of animals with external gills. Examples of animals with external gills.
external structure of female reproductive system external structure of female reproductive system
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s. A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Video: Mendel's Principles of Dominance, Segregation and Independent Assortment

For a complete list of videos, visit our video library