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Author Question: In an unregulated competitive market, the presence of marginal external benefit from a good or ... (Read 125 times)

vicotolentino

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on: Jun 29, 2018
In an unregulated competitive market, the presence of marginal external benefit from a good or service results in overproduction.
 
  Indicate whether the statement is true or false

Question 2

Assume that for whatever reason there is a manufacturing firm exhibits a constant marginal product of labor over a certain range of production.
 
  Armed with only this information what would you be able to say about the average product and total product of labor curves of this firm.


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Viet Thy

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

FALSE

Answer to Question 2

The marginal product curve and the average product curve would be one and the same and would have a horizontal shape of the relevant production range. The total product function would be an upward-sloping linear function.


vicotolentino

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

amcvicar

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Reply 3 on: Yesterday
:D TYSM

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