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

Author Question: If the value of marginal product of a factor of production exceeds the price of the factor, the ... (Read 54 times)

EAugust

  • Hero Member
  • *****
  • Posts: 550
on: Jun 29, 2018
If the value of marginal product of a factor of production exceeds the price of the factor, the
 
  A) firm should hire more of that factor.
  B) firm should hire less of that factor.
  C) firm is maximizing profits.
  D) firm should shut down.

Question 2

Tom takes 20 minutes to cook an egg and 5 minutes to make a sandwich. Jerry takes 15 minutes to cook an egg and 3 minutes to make a sandwich. Tom has a comparative advantage in ________ and Jerry has a comparative advantage in ________.
 
  A) cooking eggs; making sandwiches
  B) making sandwiches; cooking eggs
  C) neither of these activities; both activities
  D) both activities; neither of these activities


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

GCabra

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


EAugust

  • Member
  • Posts: 550
Reply 2 on: Jun 29, 2018
Gracias!

bassamabas

  • Member
  • Posts: 294
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

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.

Mendel's analyses of single-factor crosses Mendel's analyses of single-factor crosses
The production of transgenic crops The production of transgenic crops
Oil and Natural Gas Production from More Wells in Smaller Areas Oil and Natural Gas Production from More Wells in Smaller Areas
Vitamin C contributes to healthy, glowing skin by facilitating the production of collagen Vitamin C contributes to healthy, glowing skin by facilitating the production of collagen
Find derivative using product rule Find derivative using product rule
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Video: Central Nervous System Animation

For a complete list of videos, visit our video library