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

Author Question: A student wrote: When the average product of labor exceeds the marginal product, the marginal ... (Read 157 times)

vHAUNG6011

  • Hero Member
  • *****
  • Posts: 514
on: Jun 29, 2018
A student wrote: When the average product of labor exceeds the marginal product, the marginal product is increasing. If you were the instructor, how would you correct this statement?
 
  What will be an ideal response?

Question 2

The above figure shows the marginal private benefit and marginal social cost of a college education. If society's external benefits from college graduates is 10,000 each, then the
 
  A) marginal social cost curve lies 10,000 to the left of the private marginal benefit curve.
  B) marginal social cost curve lies 10,000 to the right of the private marginal benefit curve.
  C) marginal social benefit curve lies 10,000 below the private marginal benefit curve.
  D) marginal social benefit curve lies 10,000 above the private marginal benefit curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jsherida

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 29, 2018
Answer to Question 1

There are several errors. The corrected sentence is When the average marginal product of labor exceeds the marginal average product, the marginal average product is increasing.

Answer to Question 2

D


vHAUNG6011

  • Member
  • Posts: 514
Reply 2 on: Jun 29, 2018
:D TYSM

bigcheese9

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007). The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007).
A Scatterplot of the Test Scores and Average Grades of 10 Students A Scatterplot of the Test Scores and Average Grades of 10 Students
Closed and Open Food Product Dating Closed and Open Food Product Dating
The average percentages by polygraph exams The average percentages by polygraph exams
Find derivative using product rule Find derivative using product rule
The functional role of pRB. The pRB protein product of RB1 The functional role of pRB. The pRB protein product of RB1
Video: Simple and Double Sugar

For a complete list of videos, visit our video library