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

Author Question: If the wage that a competitive firm must pay its workers exceeds their value of marginal product, ... (Read 75 times)

imanialler

  • Hero Member
  • *****
  • Posts: 539
on: Jun 29, 2018
If the wage that a competitive firm must pay its workers exceeds their value of marginal product, the firm will
 
  A) decrease the quantity of labor it employs.
  B) increase the quantity of labor it employs.
  C) lower the price of the good.
  D) raise the price of the good.

Question 2

Which type of cost is does not change as the quantity of output produced changes?
 
  A) total cost
  B) average cost
  C) fixed cost
  D) marginal cost


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jesse.fleming

  • Sr. Member
  • ****
  • Posts: 301
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


imanialler

  • Member
  • Posts: 539
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

jackie

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Dolores Huerta and Cesar Chavez, leaders of the United Farm Workers, discuss their 1968 strike of ... Dolores Huerta and Cesar Chavez, leaders of the United Farm Workers, discuss their 1968 strike of ...
Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact. Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact.
Firm handshake Firm handshake
Use the product rule to find derivative Use the product rule to find derivative
The phenotype of an organism is the product of interactions The phenotype of an organism is the product of interactions
Specialized Workers: Soldier Termite Specialized Workers: Soldier Termite
Video: Photosynthesis and Van Helmont Experiment

For a complete list of videos, visit our video library