« previous next »

Author Question: Which of the following is characteristic of the marginal revenue product schedule for a resource? ... (Read 49 times)

luvbio

  • Hero Member
  • *****
  • Posts: 623
on: Jun 30, 2018
Which of the following is characteristic of the marginal revenue product schedule for a resource?
 a. It approximates the firm's demand curve for the resource.
  b. It measures the change in total revenue resulting from employing an additional unit of the resource.
  c. It is determined by multiplying the marginal product of the resource by the marginal revenue of the good produced.
  d. All of these are true.

Question 2

A downward-sloping portion of a long-run average total cost curve is the result of:
 a. economies of scale.
  b. diseconomies of scale.
  c. diminishing returns.
  d. the existence of fixed resources.


wtf444

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Cushing’s syndrome. A photograph of a woman with the characteristic facial features of Cushing’s syn Cushing’s syndrome. A photograph of a woman with the characteristic facial features of Cushing’s syn
Assessment of characteristic odors Assessment of characteristic odors
Present Value Formula: Amortization Schedule Present Value Formula: Amortization Schedule
(a) The characteristic karyotype of Klinefelter syndrome. (b) The young man (left) in these photos h (a) The characteristic karyotype of Klinefelter syndrome. (b) The young man (left) in these photos h
The phenotype of an organism is the product of interactions The phenotype of an organism is the product of interactions
Recommended Immunization Schedule for Children Recommended Immunization Schedule for Children
Video: Interview with Person having Obsessive Compulsive Disorder

For a complete list of videos, visit our video library