Author Question: Harold Brown runs a company that sells encyclopedia sets for 250 each. When he employs 10 workers, ... (Read 54 times)

tth · **on:** Jun 30, 2018

Harold Brown runs a company that sells encyclopedia sets for 250 each. When he employs 10 workers, they can sell 60 sets per week, while only 54 sets are sold when 9 workers are employed. What is the weekly marginal revenue product of the tenth worker?
a. 250.
b. 1,250.
c. 1,500.
d. 15,000.

Question 2

When the curve that envelops the series of possible short-run average total cost curves is horizontal, this means that there are:
a. economies of scale.
b. diseconomies of scale.
c. constant returns to scale.
d. diminishing returns.
e. some fixed factors of production.

lkanara2 · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

c

Answer to Question 2

c

Author Question: Harold Brown runs a company that sells encyclopedia sets for 250 each. When he employs 10 workers, ... (Read 54 times)

tth

Harold Brown runs a company that sells encyclopedia sets for 250 each. When he employs 10 workers, ...

lkanara2

Harold Brown runs a company that sells encyclopedia sets for 250 each. When he employs 10 workers, ...

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