« previous next »

Author Question: Within the framework of economics, optimization means providing a good or service until a. total ... (Read 44 times)

RRMR

  • Hero Member
  • *****
  • Posts: 557
on: Jul 1, 2018
Within the framework of economics, optimization means providing a good or service until
 a. total benefits are maximized.
  b. total benefits and total costs are equal.
  c. marginal benefits exceed marginal costs by the greatest amount possible.
  d. marginal benefits and marginal costs are equal.
  e. as long as total benefits are greater than total costs, any amount may be optimal under the right circumstances.

Question 2

A monopsonist that faces a labor supply curve of the form l = 4w and has a constant marginal revenue product of 50 per unit of l, will opt for the following, w, l combination:
 a. w = 10 l = 40.
  b. w = 25 l = 100.
  c. w = 50 l = 200.
  d. w = 100 l = 400.


Smiles0805

  • Sr. Member
  • ****
  • Posts: 305
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

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?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

A form that the customer should fill out if there is a driveablilty concern to help the service ... A form that the customer should fill out if there is a driveablilty concern to help the service ...
Temperature Means and Ranges Temperature Means and Ranges
Dried fruits are good source of sulfur Dried fruits are good source of sulfur
Prevalence of good health in Canadians aged 65 years and older Prevalence of good health in Canadians aged 65 years and older
A 40.0-kg crate is being raised by means of a rope. Its upward acceleration is 2.00 m/s2. What ... A 40.0-kg crate is being raised by means of a rope. Its upward acceleration is 2.00 m/s2. What ...
Describe the Conceptual Forecasting Framework in your own words. Describe the Conceptual Forecasting Framework in your own words.
Video: Segmentation and migrating motility complexes & Gastroileal reflex

For a complete list of videos, visit our video library