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

Author Question: What is the shape of a firm's marginal revenue product curve? Why does it look this way? What ... (Read 78 times)

neverstopbelieb

  • Hero Member
  • *****
  • Posts: 534
on: Jun 29, 2018
What is the shape of a firm's marginal revenue product curve? Why does it look this way?
 
  What will be an ideal response?

Question 2

Cassie's Quilts alters, reconstructs, and restores heirloom quilts. Cassie has just spent 800 purchasing, cleaning, and reconstructing an antique quilt which she expects to sell for 1,500 once she is finished.
 
  After having spent 800, Cassie discovers that she would need some special period fabric that would cost her 200 in material and time in order to complete the task. Alternatively, she can sell the quilt as is now for 900. What is her marginal benefit if she sells the quilt as is now?
  A) 100
  B) 900
  C) She makes a marginal loss of 600, not a marginal benefit.
  D) The marginal benefit cannot be determined.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

missalyssa26

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Jun 29, 2018
Answer to Question 1

The firm's marginal revenue product curve is downward sloping like the marginal product curve. The shape occurs as a result of diminishing returns in the short run.

Answer to Question 2

B


neverstopbelieb

  • Member
  • Posts: 534
Reply 2 on: Jun 29, 2018
:D TYSM

kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

SICKLE SHAPE SICKLE SHAPE
The titration curve of the buffer acetic acid (CH3COOH) The titration curve of the buffer acetic acid (CH3COOH)
Aggregated red-cell clusters have a streamlined shape, leading to further viscos Aggregated red-cell clusters have a streamlined shape, leading to further viscos
Bell Curve Joke Bell Curve Joke
Workshop of Kane Kwei, Coffin in the shape of a film projector, Teshi area, Ghana, Africa. 2013. Workshop of Kane Kwei, Coffin in the shape of a film projector, Teshi area, Ghana, Africa. 2013.
A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ... A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ...
Video: Types of energy transfer reactions: oxidation-reduction reactions and ATP generation reactions

For a complete list of videos, visit our video library