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

Author Question: Under perfect competition, the equilibrium price of labor used to produce cloth will be equal to ... (Read 55 times)

mckennatimberlake

  • Hero Member
  • *****
  • Posts: 559
on: Jun 30, 2018
Under perfect competition, the equilibrium price of labor used to produce cloth will be equal to
 
  A) the marginal product of labor in the production of cloth times the price of cloth.
  B) the average product of labor in the production of cloth times the price of cloth.
  C) the ratio of the marginal product of labor in the production of cloth to the marginal product of labor in the production of food times the ratio of the price of cloth. to the price of food.
  D) the slope of the production possibility frontier.
  E) the price of cloth divided by the marginal product of labor in the production of cloth.

Question 2

Refer to the figure above. A tariff of ________ would be purely protective.
 
  A) 0
  B) 5
  C) 8
  D) 10


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mtmmmmmk

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

D


mckennatimberlake

  • Member
  • Posts: 559
Reply 2 on: Jun 30, 2018
:D TYSM

tuate

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Influence of abiotic factors on competition between T. castaneum and T. confusum. Influence of abiotic factors on competition between T. castaneum and T. confusum.
A stallion with a proven competition record is one criterion for being a suitable sire. A stallion with a proven competition record is one criterion for being a suitable sire.
The stages of labor and delivery. (A) During the dilation stage the cervix thins and dilates to 10 c The stages of labor and delivery. (A) During the dilation stage the cervix thins and dilates to 10 c
Alexander Fleming photographed in his lab where he observed the natural competition between a fungus Alexander Fleming photographed in his lab where he observed the natural competition between a fungus
Self-crossing F2 plants to produce an F3 generation shows that there are two different genotypes amo Self-crossing F2 plants to produce an F3 generation shows that there are two different genotypes amo
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Video: Chemical Messengers Animation

For a complete list of videos, visit our video library