« previous next »

Author Question: Which of the following is characteristic of the marginal revenue product schedule for a resource? ... (Read 13 times)

luvbio

  • Hero Member
  • *****
  • Posts: 623
on: Jun 30, 2018
Which of the following is characteristic of the marginal revenue product schedule for a resource?
 a. It approximates the firm's demand curve for the resource.
  b. It measures the change in total revenue resulting from employing an additional unit of the resource.
  c. It is determined by multiplying the marginal product of the resource by the marginal revenue of the good produced.
  d. All of these are true.

Question 2

A downward-sloping portion of a long-run average total cost curve is the result of:
 a. economies of scale.
  b. diseconomies of scale.
  c. diminishing returns.
  d. the existence of fixed resources.


wtf444

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

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.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

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

Conjunctivitis, with the characteristic “pinkeye” appearance. A yellow crusty exudate is also common Conjunctivitis, with the characteristic “pinkeye” appearance. A yellow crusty exudate is also common
An appointment schedule with a completed matrix. An appointment schedule with a completed matrix.
Elder Care Resource Phone Numbers Elder Care Resource Phone Numbers
Child's right hand and wrist displaying the characteristic spotted rash of Rocky Mountain ... Child's right hand and wrist displaying the characteristic spotted rash of Rocky Mountain ...
Resource partitioning Resource partitioning
Find the two integers that have a sum of 20 and a maximum product Find the two integers that have a sum of 20 and a maximum product
Video: Digestive System Animation

For a complete list of videos, visit our video library