« previous next »

Author Question: The demand for labor of a perfectly competitive producer: a. is perfectly elastic at the going wage ... (Read 31 times)

jilianpiloj

  • Hero Member
  • *****
  • Posts: 521
on: Jun 30, 2018
The demand for labor of a perfectly competitive producer:
 a. is perfectly elastic at the going wage rate.
 b. is downward sloping because prices fall when the producer increases output.
 c. is downward sloping because of diminishing marginal productivity.
 d. is downward sloping because prices fall when the producer increases output and because of diminishing marginal productivity.

Question 2

A firm chooses vertical integration to reduce all of the following costs, EXCEPT:
 a. the cost of investing in diversified assets.
  b. the cost of finding a trading partner.
  c. the cost of devising and enforcing an agreement.
  d. the cost of evaluating the other party's performance.


snackralk

  • Sr. Member
  • ****
  • Posts: 363
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Elastic fibres are made of elastin, one type of structural protein found in the ECM of animal cells Elastic fibres are made of elastin, one type of structural protein found in the ECM of animal cells
Competitive inhibition Competitive inhibition
Elastic cartilage Ear Elastic cartilage Ear
The demand for energy is met by burning coal and other fossil fuels The demand for energy is met by burning coal and other fossil fuels
A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ... A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ...
Competitive firms and maximization Competitive firms and maximization
Video: Gas exchange - driving force

For a complete list of videos, visit our video library