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 126 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
Thanks for the timely response, appreciate it

shewald78

  • Member
  • Posts: 340
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Furchgott's discovery that endothelial cells produce a vasodilating substance. Furchgott's discovery that endothelial cells produce a vasodilating substance.
Older people who exercise cognitive skills, like these chess players, retain those skills well into ... Older people who exercise cognitive skills, like these chess players, retain those skills well into ...
A Fischer-Tropsch processing plant is able to produce a variety of fuels from coal. A Fischer-Tropsch processing plant is able to produce a variety of fuels from coal.
Ads from the public service campaign in the late 1960s and early 1970s that encouraged people to get ... Ads from the public service campaign in the late 1960s and early 1970s that encouraged people to get ...
The Accessory Organs The liver, gallbladder, and pancreas produce digestive secretions that flow The Accessory Organs The liver, gallbladder, and pancreas produce digestive secretions that flow
Wages and Machines in the Textile Industry, 1910 Wages and Machines in the Textile Industry, 1910
Video: Bacteriophage (Virus) - Mice Experiment

For a complete list of videos, visit our video library