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

Author Question: The diagram below shows the MRP curve for a firm producing copper plumbing pipe. The factor of ... (Read 55 times)

desireelg_7

  • Full Member
  • ***
  • Posts: 146
on: Oct 12, 2022

The diagram below shows the MRP curve for a firm producing copper plumbing pipe. The factor of production being considered here is hours of labour.



FIGURE 13-1

Refer to Figure 13-1. Suppose this firm is facing MRP1, a wage rate of $12 per hour and is employing 150 units of labour. At this level of employment,


◦ the last unit of labour contributes as much to the firm's costs as to the firm's revenues and so the firm should not change its use of labour.
◦ the last unit of labour is adding more to the firm's cost than it is adding to the firm's revenue, so it should reduce the use of labour.
◦ the last unit of labour is adding less to the firm's cost than it is adding to the firm's revenue, so it should increase the use of labour.
◦ the firm has shifted the MRP curve to MRP3.
◦ the firm has shifted the MRP curve to MRP2.
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 desireelg_7 on Oct 12, 2022

Nutellas_Good

  • Full Member
  • ***
  • Posts: 156
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 29% of students answer this correctly


desireelg_7

  • Member
  • Posts: 146
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

ricroger

  • Member
  • Posts: 352
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Bacteria Diagram Bacteria Diagram
Human Skeleton Diagram Human Skeleton Diagram
Structure of the H-R Diagram Structure of the H-R Diagram
This lithograph of the New York draft riots, 1863, shows that although the rioters mainly targeted b This lithograph of the New York draft riots, 1863, shows that although the rioters mainly targeted b
Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator
Which of the following reactions correctly shows the transmutation of an element by neutron ... Which of the following reactions correctly shows the transmutation of an element by neutron ...
Video: Angiotensin II - kidneys, adrenal glands and dehydration

For a complete list of videos, visit our video library