As the quantity of labor increases, value of marginal product for ...

[laurencescou]

As the quantity of labor increases, value of marginal product for a perfectly competitive firm
 
  A) decreases because the firm must lower its price to sell a larger quantity.
  B) decreases because the marginal product of labor decreases.
  C) decreases because marginal revenue decreases.
  D) is constant because marginal revenue is constant.

Question 2

The figure above shows Ronald's budget line. He has a weekly income of 20 and he spends it on hot dogs and hamburgers. The relative price of a hamburger is ________.
 
  A) 1/2 hot dog
  B) 5 hot dogs
  C) 20
  D) 2 hot dogs

[babybsemail]

Answer to Question 1

B

Answer to Question 2

A

[laurencescou]

Excellent

[duy1981999]

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