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 93 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!

ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Excellent

« 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?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

In nest, under production In nest, under production
Product & Process Influences - Sterile Products Product & Process Influences - Sterile Products
Importance of Considering Gestalt Principles in Product Design (2 of 2) Importance of Considering Gestalt Principles in Product Design (2 of 2)
Use the product rule to find derivative Use the product rule to find derivative
Complete the following production chart and plot the points. Complete the following production chart and plot the points.
The production of a new allopolyploid species The production of a new allopolyploid species
Video: Origin of organelles Animation

For a complete list of videos, visit our video library