« previous next »

Author Question: If there is imperfect competition in the product market, the marginal revenue product of a factor ... (Read 78 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?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Connell's experimental manipulation of species indicated the presence of competition. Connell's experimental manipulation of species indicated the presence of competition.
Sexual swellings are one way for females to advertise their mating availability, thereby inducing ma Sexual swellings are one way for females to advertise their mating availability, thereby inducing ma
Stock Market Question Stock Market Question
To find the derivative use product rule To find the derivative use product rule
Find the two integers that have a sum of 20 and a maximum product Find the two integers that have a sum of 20 and a maximum product
The ChIPSeq method screens for specific transcription factor binding sites across a whole genome The ChIPSeq method screens for specific transcription factor binding sites across a whole genome
Video: Male Reproductive System - Testosterone

For a complete list of videos, visit our video library