« previous next »

Author Question: If there is imperfect competition in the product market, the marginal revenue product of a factor ... (Read 92 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?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

The frequency of competition according to the number of species involved. The frequency of competition according to the number of species involved.
Reconstruction Drawing of Trajan's Market Reconstruction Drawing of Trajan's Market
Use the product rule to find derivative Use the product rule to find derivative
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Age is the leading risk factor for cancer Age is the leading risk factor for cancer
Which of the following is not a unit factor related to a 10.0% aqueous solution Which of the following is not a unit factor related to a 10.0% aqueous solution
Video: Knee Animation

For a complete list of videos, visit our video library