« previous next »

Author Question: If there is imperfect competition in the product market, the marginal revenue product of a factor ... (Read 84 times)

leilurhhh

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
If there is imperfect competition in the product market, the marginal revenue product of a factor will be greater than the value of its marginal product.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If a price increase from 20 to 40 causes quantity demanded to decrease from 100 units to 50 units, one can conclude that demand for the product is _____.
 a. inelastic
  b. elastic
  c. perfectly inelastic
  d. perfectly elastic
  e. unit-elastic


Jane

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Many types of edible fungi are grown for the market. Many types of edible fungi are grown for the market.
Competition among Paramecium species. Competition among Paramecium species.
Succession in the intertidal zone involves colonization and competition for limited space among spec Succession in the intertidal zone involves colonization and competition for limited space among spec
How to factor a perfect square trinomial How to factor a perfect square trinomial
Hydroelectric power: 2013 Global Market Hydroelectric power: 2013 Global Market
Translation Elongation Factor Homologs Translation Elongation Factor Homologs
Video: Neural regulation of mechanical digestion- CNS voluntary, ANS & ENS controlled involuntary movements

For a complete list of videos, visit our video library