« previous next »

Author Question: If there is imperfect competition in the product market, the marginal revenue product of a factor ... (Read 80 times)

leilurhhh

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
If there is imperfect competition in the product market, the marginal revenue product of a factor will be greater than the value of its marginal product.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If a price increase from 20 to 40 causes quantity demanded to decrease from 100 units to 50 units, one can conclude that demand for the product is _____.
 a. inelastic
  b. elastic
  c. perfectly inelastic
  d. perfectly elastic
  e. unit-elastic


Jane

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

General features of a growth factor or hormone signalling pathway that promotes cell division General features of a growth factor or hormone signalling pathway that promotes cell division
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s. A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
the transamination product of tryptophan is decarboxylated to yield indole-3-acetic acid, or auxin the transamination product of tryptophan is decarboxylated to yield indole-3-acetic acid, or auxin
Product safety Product safety
Risk factor for children age 2 to 3 Risk factor for children age 2 to 3
Which of the following is not a unit factor related to a 10.0% aqueous solution Which of the following is not a unit factor related to a 10.0% aqueous solution
Video: Fetal Development of the Cardiovascular System

For a complete list of videos, visit our video library