For a competitive firm, workers' marginal revenue product equals ...

[dalyningkenk]

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.

[ilianabrrr]

Answer to Question 1

b

Answer to Question 2

c

[dalyningkenk]

Thanks for the timely response, appreciate it

[kjohnson]

Wow, this really help