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

Author Question: If the quantity of corn is such that the marginal cost of corn is greater than the marginal benefit ... (Read 126 times)

audie

  • Hero Member
  • *****
  • Posts: 532
on: Jun 29, 2018
If the quantity of corn is such that the marginal cost of corn is greater than the marginal benefit of corn, then I. there is a deadweight loss. II. more than the efficient quantity of corn is produced.
 
  A) Only I is correct.
  B) Only II is correct.
  C) Both I and II are correct.
  D) Neither I nor II is correct.

Question 2

The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm increases its output from 2 pounds of cookies to 3 pounds, the marginal revenue is ________ per pound of cookies.
 
  A) 11
  B) 15
  C) 30
  D) 45


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

b614102004

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


audie

  • Member
  • Posts: 532
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

sultana.d

  • Member
  • Posts: 320
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Modern Corn Was Domesticated from the Wild Grass Teosinte Modern Corn Was Domesticated from the Wild Grass Teosinte
Typical Startup Cost Categories Typical Startup Cost Categories
Opener Pigment mutations within an ear of corn, caused by transposition of the Ds element Opener Pigment mutations within an ear of corn, caused by transposition of the Ds element
Identify the variable representing each described quantity in the equation Identify the variable representing each described quantity in the equation
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Greater Long-nosed Tree Shrew (Tupaia tana), Borneo and Sumatra. Greater Long-nosed Tree Shrew (Tupaia tana), Borneo and Sumatra.
Video: Lipid absorption - end products & transport mechanism

For a complete list of videos, visit our video library