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

Author Question: A firm has excess capacity if its output is A) less than the quantity at which marginal cost is ... (Read 36 times)

faduma

  • Hero Member
  • *****
  • Posts: 528
on: Jun 29, 2018
A firm has excess capacity if its output is
 
  A) less than the quantity at which marginal cost is minimized.
  B) less than the quantity at which economic profit is maximized.
  C) less than the quantity at which average total cost is minimized.
  D) more than the quantity at which average total cost is minimized.

Question 2

The figure above shows the labor demand and labor supply curves for workers in local fast-food restaurants. The fast-food restaurant industry is competitive. A decrease in the supply of labor shifts the labor supply curve from LS0 to LS1.
 
  Fast-food restaurants hire ________ and total labor income earned by the fast-food workers ________. A) 40 hours of labor a day; increases
  B) 30 hours of labor a day; decreases
  C) 40 hours of labor a day; decreases
  D) 30 hours of labor a day; increases


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

whitcassie

  • Sr. Member
  • ****
  • Posts: 298
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


faduma

  • Member
  • Posts: 528
Reply 2 on: Jun 29, 2018
:D TYSM

mochi09

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Easter Island—an example of Carrying Capacity Overload Easter Island—an example of Carrying Capacity Overload
Cranial capacity has increased approximately fourfold over the last 3.5 million years of hominin evo Cranial capacity has increased approximately fourfold over the last 3.5 million years of hominin evo
Performing a Spirometry Test to Measure Forced Vital Capacity Performing a Spirometry Test to Measure Forced Vital Capacity
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Cost of Going to School Cost of Going to School
Psychologists measure basic memory capacity Psychologists measure basic memory capacity
Video: Type of Transport - Active and Passive Processes

For a complete list of videos, visit our video library