This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A profit-maximizing firm will employ a resource up to the point where a. its marginal resource cost ... (Read 104 times)

iveyjurea

  • Hero Member
  • *****
  • Posts: 555
on: Jun 30, 2018
A profit-maximizing firm will employ a resource up to the point where
 a. its marginal resource cost equals its marginal revenue product
  b. its marginal resource cost equals its marginal product
  c. its marginal resource cost equals the marginal revenue of the output
  d. its marginal resource cost equals the price of the resource
  e. the price of the resource equals the marginal revenue of the output

Question 2

If consumption of education creates a positive externality, then in order to increase efficiency relative to the outcome determined by private decisions,
 a. more education must be produced
  b. the same amount of education must be produced, and the price should be lower
  c. less education must be produced, and the price should be higher
  d. less education must be produced, and the price should be lower
  e. less education must be produced at the same price


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mirabriestensky

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

A


iveyjurea

  • Member
  • Posts: 555
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

adf223

  • Member
  • Posts: 304
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

The Cardiac Landmarks. A = Aortic Area; P = Pulmonic Area; E = Erb’s Point; T = Tri The Cardiac Landmarks. A = Aortic Area; P = Pulmonic Area; E = Erb’s Point; T = Tri
Surgical needle shapes: (A) taper point; (B) cutting point. Surgical needle shapes: (A) taper point; (B) cutting point.
A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
Firm handshake Firm handshake
Growth of a Renewable Resource Growth of a Renewable Resource
Two-point discrimination Two-point discrimination
Video: EpiPen Animation (Part 1)

For a complete list of videos, visit our video library