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 33 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
Gracias!

tanna.moeller

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

RH Factor in Pregnancy RH Factor in Pregnancy
Two-Factor Theory Two-Factor Theory
Block Diagram of a High Concentrate Nitric Acid System for Dual-Stage Pressure Production of Nitric Block Diagram of a High Concentrate Nitric Acid System for Dual-Stage Pressure Production of Nitric
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
pRB Transcription Factor pRB Transcription Factor
The production of a new allopolyploid species The production of a new allopolyploid species
Video: Mechanism of enzyme action

For a complete list of videos, visit our video library