Author Question: Joe manages a company that produces lawn mowers. Joe knows that the value of marginal product A) ... (Read 75 times)

arivle123

  • Hero Member
  • *****
  • Posts: 569
Joe manages a company that produces lawn mowers. Joe knows that the value of marginal product
 
  A) decreases as he hires more labor to produce lawn mowers.
  B) does not change as he sells more lawn mowers.
  C) increases as he hires more labor to produce lawn mowers.
  D) increases as he sells more lawn mowers.

Question 2

A good has a perfectly inelastic supply and a downward sloping demand curve. Imposing a sales tax of 1 per unit on the sellers of the good
 
  A) raises the price paid by demanders by more than 1.00.
  B) raises the price paid by demanders by 1.00.
  C) raises the price paid by demanders by less than 1.00.
  D) does not change the price paid by demanders.



Kimmy

  • Sr. Member
  • ****
  • Posts: 342
Answer to Question 1

A

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

For a complete list of videos, visit our video library