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Author Question: Marginal revenue product falls as more labor is hired because A) the price of the product must ... (Read 58 times)

JGIBBSON

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on: Jun 29, 2018
Marginal revenue product falls as more labor is hired because
 
  A) the price of the product must fall for a perfectly competitive firm to sell more.
  B) the marginal product of labor is negative as additional units of labor are hired.
  C) the wage rate rises as more workers work more hours.
  D) the marginal product of labor falls as a result of the law of diminishing returns.

Question 2

Only one of the following statements is correct. The statements compare perfectly competitive (PC) markets and monopolistically competitive (MC) markets. Which statement is correct?
 
  A) Productive efficiency is achieved in both PC and MC markets. Allocative efficiency is achieved only in MC markets.
  B) Allocative efficiency is achieved only in PC markets. Productive efficiency is achieved only in MC markets.
  C) Productive efficiency and allocative efficiency are both achieved in PC markets. Neither is achieved in MC markets.
  D) Allocative efficiency is achieved in both PC and MC markets. Productive efficiency is achieved only in PC markets.
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Dominic

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Reply #1 on: Jun 29, 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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JGIBBSON

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Reply 2 on: Jun 29, 2018
Gracias!

emsimon14

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

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