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Author Question: Assume a firm employs 10 workers and pays each 15 per hour. Further assume that the MP of the 10th ... (Read 76 times)

asmith134

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on: Jul 1, 2018
Assume a firm employs 10 workers and pays each 15 per hour. Further assume that the MP of the 10th worker is 5 units of output and that the price of the output is 4. According to economic theory, in the short run
 
  A) the firm should hire additional workers.
  B) the firm should reduce the number of workers employed.
  C) the firm should continue to employ 10 workers.
  D) More information is required to answer this question.

Question 2

The above figure shows the cost curves for a typical firm in a competitive market. Note that if p = 10, then MC = p at both q = 5 and q = 60. Can they both yield maximum profit? Explain.
 
  What will be an ideal response?
Microeconomics ¦ Perloff ¦ 8th Edition
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janeli

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Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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asmith134

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

cpetit11

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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