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Author Question: A firm should consume physical capital until: A) the value of the total product of physical ... (Read 107 times)

kellyjaisingh

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on: Jun 29, 2018
A firm should consume physical capital until:
 
  A) the value of the total product of physical capital equals the price of physical capital.
  B) the value of the average product of physical capital equals the price of physical capital.
  C) the value of the marginal product of physical capital equals the price of physical capital.
  D) the value of the marginal product of physical capital equals the value of the marginal product of labor.

Question 2

Which of the following is true of a second-price sealed-bid auction?
 
  A) Bidders directly compete with each other.
  B) Bidders submit their bids simultaneously.
  C) Bidders know each other's bid.
  D) Bidders always bid above their willingness to pay.


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meltdown117

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


kellyjaisingh

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Reply #2 on: Jun 29, 2018
Thank you


meltdown117

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Reply #3 on: Jun 29, 2018
No problemo


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