« previous next »

Author Question: A profit-maximizing firm will never hire that quantity of a factor of production for which that ... (Read 104 times)

nevelica

  • Hero Member
  • *****
  • Posts: 563
on: Jul 1, 2018
A profit-maximizing firm will never hire that quantity of a factor of production for which that factor has an increasing marginal productivity because
 a. it would not be maximizing output.
  b. it would not be maximizing the productivity of labor.
  c. it would not be minimizing costs.
  d. it would not be maximizing profits.

Question 2

If a profit-maximizing firm is a price taker in both the input and output markets, its marginal revenue product of labor is given by
 a. the price of its output times labor's marginal physical productivity.
  b. the marginal value product of labor.
  c. the marginal revenue product of capital times the ratio of the wage rate to the rental rate on capital.
  d. all of the above.


chreslie

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

nevelica

  • Hero Member
  • *****
  • Posts: 563
Reply #2 on: Jul 1, 2018
Thank you


chreslie

  • Sr. Member
  • ****
  • Posts: 307
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Polyploidy has been an important factor in the evolution of plants. Polyploidy has been an important factor in the evolution of plants.
The production of transgenic crops The production of transgenic crops
Profit-maximizing Chart Profit-maximizing Chart
Human of the planet's net primary production and appropriation of NPP Human of the planet's net primary production and appropriation of NPP
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
pRB Transcription Factor pRB Transcription Factor
Video: Osmosis - Isotonic, Hypotonic, and Hypertonic​ Solutions

For a complete list of videos, visit our video library