This topic contains a solution. Click here to go to the answer

Author Question: A resource's marginal product is a. the revenue produced by one additional unit of that resource, ... (Read 80 times)

vicky

  • Hero Member
  • *****
  • Posts: 586
A resource's marginal product is
 a. the revenue produced by one additional unit of that resource, other things constant
  b. the total output produced by one unit of that resource, other things constant
  c. the additional output produced by one additional unit of that resource, other things constant
  d. the total output divided by the number of units of that resource employed
  e. the total output times the number of units of that resource employed

Question 2

According to the Coase theorem, in order to solve a negative externality problem efficiently,
 a. the property right must be assigned to the party with the least-cost alternative
  b. the property right must be assigned to the victim of pollution
  c. transaction costs must be high
  d. transaction costs must be low
  e. property rights must be determined by the courts



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Hikerman221

  • Sr. Member
  • ****
  • Posts: 346
Answer to Question 1

C

Answer to Question 2

D




vicky

  • Member
  • Posts: 586
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


peter

  • Member
  • Posts: 330
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

For a complete list of videos, visit our video library