Author Question: Refer to Table 13-4. Victoria's profit-maximizing output is where A) total profit equals 3. B) ... (Read 106 times)

fagboi

  • Hero Member
  • *****
  • Posts: 535
Refer to Table 13-4. Victoria's profit-maximizing output is where
 
  A) total profit equals 3.
  B) marginal revenue and marginal cost both equal 4.
  C) marginal cost is at its minimum value.
  D) marginal revenue and marginal cost both equal 3.

Question 2

Diminishing marginal product of labor occurs when adding another unit of labor
 
  A) increases output by an amount larger than the output added by the previous unit of labor.
  B) decreases output by an amount smaller than the output added by the previous unit of labor.
  C) changes output by an amount smaller than the output added by the previous unit of labor.
  D) decreases output.


blfontai

  • Sr. Member
  • ****
  • Posts: 327
Answer to Question 1

D

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

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.

For a complete list of videos, visit our video library