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

Author Question: The firm's production function is the relationship between the ________ and ________. A) output ... (Read 98 times)

dejastew

  • Hero Member
  • *****
  • Posts: 562
on: Jun 29, 2018
The firm's production function is the relationship between the ________ and ________.
 
  A) output produced; the quantities of all inputs
  B) maximum output attainable; the quantity of variable inputs
  C) possible range of maximum output; the quantity of variable inputs
  D) maximum output attainable; the quantities of both labor and capital

Question 2

The above figure shows the market for labor. The employer is a monopsony. At the equilibrium level of employment, which of the following is CORRECT?
 
  A) MCL = VMP
  B) VMP > W
  C) W < MCL
  D) All of the above are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bpool94

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


dejastew

  • Member
  • Posts: 562
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Missbam101

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Experimental evidence of the effect of allelochemicals on plant production. Experimental evidence of the effect of allelochemicals on plant production.
Relationship between a diagnostic label and related factor Relationship between a diagnostic label and related factor
Testing motor function of cranial nerve VII - Close both eyes Testing motor function of cranial nerve VII - Close both eyes
Converting cubic graph to function Converting cubic graph to function
The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum
Sketch the graph using the tables providing. Determine if each function is continuous or ... Sketch the graph using the tables providing. Determine if each function is continuous or ...
Video: Egg and Sperm Formations in Animals Animation

For a complete list of videos, visit our video library