This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the profit-maximizing condition for the use of any factor of production?(Where MP = marginal ... (Read 117 times)

Austinleez3

  • Full Member
  • ***
  • Posts: 158
on: Oct 12, 2022

What is the profit-maximizing condition for the use of any factor of production?
(Where MP = marginal product, w = the price of a factor of production, p = price of one unit of the firm's output, MR = marginal revenue, MC = marginal cost, MRP = marginal revenue product.)


◦

MR = 


◦ MC = MR × w
◦ MRP = MR × MC
◦ MRP = MP × p
◦ w = MP × p
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Austinleez3 on Oct 12, 2022

Afvelasquez

  • Full Member
  • ***
  • Posts: 193
Reply #1 on: Oct 12, 2022
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.
Answer Preview
Only 39% of students answer this correctly


Austinleez3

  • Member
  • Posts: 158
Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

steff9894

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Great Britain Production of Glass 1800s Great Britain Production of Glass 1800s
World Crude Oil Production, 1900–2010 World Crude Oil Production, 1900–2010
During G0 and early G1, pRB interacts with and inactivates transcription factor E2F During G0 and early G1, pRB interacts with and inactivates transcription factor E2F
The ChIPSeq method screens for specific transcription factor binding sites across a whole genome The ChIPSeq method screens for specific transcription factor binding sites across a whole genome
The Two-Factor Theory of Emotion The Two-Factor Theory of Emotion
F factor excision from Hfr integration F factor excision from Hfr integration
Video: Inflammation

For a complete list of videos, visit our video library