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

Author Question: Sam's Scarves has 2 knitting machines and employs 2 people. They produce 15 scarves a day. If the ... (Read 110 times)

corkyiscool3328

  • Hero Member
  • *****
  • Posts: 539
on: Jun 29, 2018
Sam's Scarves has 2 knitting machines and employs 2 people. They produce 15 scarves a day. If the firm hires an additional person, the 3 workers can produce 19 scarves a day other things remaining the same.
 
  The market for scarves is perfectly competitive and the price of a scarf is 20. The value of marginal product of the third worker is ________. A) 80
  B) 300
  C) 380
  D) 4 scarves

Question 2

The figure above shows the market for coffee. If one firm owns all the coffee outlets and sells 10 million pounds of coffee a month, the deadweight loss is
 
  A) zero.
  B) 7.5 million.
  C) 15 million.
  D) 10 million


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Alyson.hiatt@yahoo.com

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


corkyiscool3328

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

mjenn52

  • Member
  • Posts: 351
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

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?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha
Children’s interactions with older siblings may help promote an understanding of other people’s ... Children’s interactions with older siblings may help promote an understanding of other people’s ...
An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ... An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ...
Two areas of reduced cortical volume and one area of increased cortical volume observed in people ... Two areas of reduced cortical volume and one area of increased cortical volume observed in people ...
Active solar technologies use for heat, cool, and produce electricity Active solar technologies use for heat, cool, and produce electricity
Marketing: Real People, Real Choices Marketing: Real People, Real Choices
Video: Chemical Equilibrium between N2O4 (colorless gas) and NO2 (brown gas)

For a complete list of videos, visit our video library