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

Author Question: If the value of marginal product of a factor of production exceeds the price of the factor, the ... (Read 37 times)

EAugust

  • Hero Member
  • *****
  • Posts: 550
on: Jun 29, 2018
If the value of marginal product of a factor of production exceeds the price of the factor, the
 
  A) firm should hire more of that factor.
  B) firm should hire less of that factor.
  C) firm is maximizing profits.
  D) firm should shut down.

Question 2

Tom takes 20 minutes to cook an egg and 5 minutes to make a sandwich. Jerry takes 15 minutes to cook an egg and 3 minutes to make a sandwich. Tom has a comparative advantage in ________ and Jerry has a comparative advantage in ________.
 
  A) cooking eggs; making sandwiches
  B) making sandwiches; cooking eggs
  C) neither of these activities; both activities
  D) both activities; neither of these activities


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

GCabra

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


EAugust

  • Member
  • Posts: 550
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

fatboyy09

  • Member
  • Posts: 358
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

The neural pathway responsible for the production and learning of song in the male canary. The neural pathway responsible for the production and learning of song in the male canary.
Energy Production Energy Production
How to factor completely How to factor completely
Use the product rule to find derivative Use the product rule to find derivative
During G0 and early G1, pRB interacts with and inactivates transcription factor E2F During G0 and early G1, pRB interacts with and inactivates transcription factor E2F
Production of prototrophs as a result of genetic recombination Production of prototrophs as a result of genetic recombination
Video: Non-specific disease resistance mechanisms & Skin's defense barriers

For a complete list of videos, visit our video library