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Author Question: When marginal product is rising, marginal costs will: a. rising. b. remaining unchanged. c. ... (Read 67 times)

javeds

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on: Jun 30, 2018
When marginal product is rising, marginal costs will:
 a. rising.
 b. remaining unchanged.
 c. falling.
 d. rising by an equal amount.

Question 2

A firm decides to hire more equipment if:
 a. the average revenue it earns by selling its output is equal to its average cost.
  b. its total revenue is greater than the total cost of hiring the equipment.
  c. the marginal revenue product of the additional unit of equipment is greater than the marginal factor cost.
  d. its average revenue is greater than the average cost of hiring equipment.
  e. the price of its product is greater than the average cost of production.


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momolu

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


javeds

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  • Posts: 570
Reply 2 on: Jun 30, 2018
Excellent

Liddy

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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