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Author Question: For a competitive firm, workers' marginal revenue product equals the marginal product of labor times ... (Read 181 times)

dalyningkenk

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on: Jun 30, 2018
For a competitive firm, workers' marginal revenue product equals the marginal product of labor times the:
 a. wage rate.
  b. price of the firm's product.
  c. interest rate.
  d. firm's total revenue.

Question 2

Economies of scale imply that within some range one can increase the size of operation and:
 a. total cost will decrease.
  b. fixed cost will decrease.
  c. average total cost will decrease.
  d. average total cost will increase.
  e. average variable cost will decrease.


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ilianabrrr

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


dalyningkenk

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

tanna.moeller

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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