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Author Question: What is the relationship between the marginal product curve and the total product curve? What ... (Read 111 times)

melina_rosy

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on: Jun 29, 2018
What is the relationship between the marginal product curve and the total product curve?
 
  What will be an ideal response?

Question 2

A government wants to build a hydroelectric dam to reduce flooding in a region and provide electricity to its people.
 
  What type of investment is this? In order to make a decision about whether or not to make the investment, how should the government evaluate this project?


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jjorrostieta

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The marginal product curve is the slope of the total product curve. Thus, marginal product is positive as long as total product is rising.

Answer to Question 2

A dam is an infrastructure or social investment. The government should estimate the expected returns from the dam over its lifetime and compare them to the expected construction costs by calculating a return on investment. If the return is greater than the opportunity cost, the government should build the dam.


melina_rosy

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Reply 2 on: Jun 29, 2018
:D TYSM

bigcheese9

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Reply 3 on: Yesterday
Excellent

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