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

Author Question: In an unregulated competitive market, the presence of marginal external benefit from a good or ... (Read 123 times)

vicotolentino

  • Hero Member
  • *****
  • Posts: 552
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Viet Thy

  • Sr. Member
  • ****
  • Posts: 329
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

  • Member
  • Posts: 552
Reply 2 on: Jun 29, 2018
:D TYSM

bigsis44

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Microscopic photo taken by Opportunity showing a gray hematite concretion, indicative of the past pr Microscopic photo taken by Opportunity showing a gray hematite concretion, indicative of the past pr
The arrangement of the external eye muscles: (A) lateral and (B) anterior views. The arrangement of the external eye muscles: (A) lateral and (B) anterior views.
Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
External Occipital protuberance External Occipital protuberance
The waveform of a good oxygen sensor as displayed on a digital storage oscilloscope (DSO). Note ... The waveform of a good oxygen sensor as displayed on a digital storage oscilloscope (DSO). Note ...
An infant begins to notice the external environment by the age of 4 to 8 months An infant begins to notice the external environment by the age of 4 to 8 months
Video: Alternative Energy Sources

For a complete list of videos, visit our video library