Author Question: When the representative firm maximizes profits A) production is at its maximum. B) the slope of ... (Read 53 times)

luvbio

  • Hero Member
  • *****
  • Posts: 623
When the representative firm maximizes profits
 
  A) production is at its maximum.
  B) the slope of the production function is at its flattest.
  C) labor costs are minimized.
  D) the marginal product of labor equals the wage.

Question 2

The Congressional Budget Office projects that Social Security spending will rise from 5 of GDP to 6 over the next four decades. Why is that a problem?
 
  What will be an ideal response?



shoemake

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

D

Answer to Question 2

The dependency ratio  the ratio of benefits-eligible retirees to contributing workers  has declined, due to improved longevity and a falling birth rate. Though the total of benefits to be paid is not rising rapidly, relative to GDP, the tax base is not growing fast enough to fund the existing system.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

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?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

For a complete list of videos, visit our video library