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Author Question: Refer to the information provided in Figure 10.2 below to answer the question(s) that follow. Refer ... (Read 128 times)

jrubin

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on: Apr 19, 2019

Question 1

If the wage rate is less than the marginal revenue product of labor, the firm should ________ to maximize profits.


◦ hire less labor and produce less output
◦ hire less labor and produce more output
◦ hire more labor and produce less output
◦ hire more labor and produce more output

Question 2

Refer to the information provided in Figure 10.2 below to answer the question(s) that follow. 









Refer to Figure 10.2. This firm's marginal cost curve has shifted from 
MC
0 to 
MC
1. A likely explanation for this is that


◦ the productivity of a variable input declined.
◦ the price of a variable input decreased.
◦ the demand for the firm's product decreased.
◦ the supply of a variable input decreased.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by jrubin on Apr 19, 2019

sultansheikh

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Reply #1 on: Apr 19, 2019
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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jrubin

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Reply #2 on: Apr 19, 2019
Thank you!


sultansheikh

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Reply #3 on: Apr 19, 2019
Always glad to help...


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