Author Question: Harold Brown runs a company that sells encyclopedia sets for 250 each. When he employs 10 workers, ... (Read 67 times)

tth

  • Hero Member
  • *****
  • Posts: 579
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

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

c

Answer to Question 2

c



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

For a complete list of videos, visit our video library