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

Author Question: If the quantity of corn is such that the marginal cost of corn is greater than the marginal benefit ... (Read 124 times)

audie

  • Hero Member
  • *****
  • Posts: 532
on: Jun 29, 2018
If the quantity of corn is such that the marginal cost of corn is greater than the marginal benefit of corn, then I. there is a deadweight loss. II. more than the efficient quantity of corn is produced.
 
  A) Only I is correct.
  B) Only II is correct.
  C) Both I and II are correct.
  D) Neither I nor II is correct.

Question 2

The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm increases its output from 2 pounds of cookies to 3 pounds, the marginal revenue is ________ per pound of cookies.
 
  A) 11
  B) 15
  C) 30
  D) 45


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

b614102004

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


audie

  • Member
  • Posts: 532
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Genetic variation in the color of corn kernels Genetic variation in the color of corn kernels
Hybrid vigor in corn Hybrid vigor in corn
Summary of Coordination of Benefit Rules Summary of Coordination of Benefit Rules
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Opener Pigment mutations within an ear of corn, caused by transposition of the Ds element Opener Pigment mutations within an ear of corn, caused by transposition of the Ds element
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Video: Interview with Person who has Panic Attacks

For a complete list of videos, visit our video library