« previous next »

Author Question: If there is imperfect competition in the product market, the marginal revenue product of a factor ... (Read 37 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?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator
Use the product rule to find derivative Use the product rule to find derivative
The graph of y = sqrt(x) is vertically stretched by a factor The graph of y = sqrt(x) is vertically stretched by a factor
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
F factor excision from Hfr integration F factor excision from Hfr integration
Translation Initiation Factor Homologs Translation Initiation Factor Homologs
Video: Mitochondrial Structure & ETC Protein Complexes (Protein Complexes and Electron Transport)

For a complete list of videos, visit our video library