This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a firm is maximizing profit and the marginal revenue product of labor is 10 and the marginal ... (Read 54 times)

yoroshambo

  • Hero Member
  • *****
  • Posts: 566
on: Jun 30, 2018
If a firm is maximizing profit and the marginal revenue product of labor is 10 and the marginal revenue product of capital is 30, then
 a. the marginal resource cost of labor is 3, and the marginal resource cost of capital is 0.33
  b. the marginal resource cost of labor is 0.33, and the marginal resource cost of capital is 3
  c. the marginal resource cost of labor equals the marginal resource cost of capital; both are 300
  d. the marginal resource cost of labor is 1/3 of the marginal resource cost of capital
  e. we have no way of knowing the marginal resource cost of either labor or capital

Question 2

The most recent data indicates households in the top fifth of the income distribution earn more than ten times as much income as those in the bottom fifth.
 a. True
  b. False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tanna.moeller

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

A


yoroshambo

  • Member
  • Posts: 566
Reply 2 on: Jun 30, 2018
:D TYSM

shewald78

  • Member
  • Posts: 340
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Proportion of Women and Men in the U.S. Labor Force Proportion of Women and Men in the U.S. Labor Force
Product & Process Influences - Sterile Products Product & Process Influences - Sterile Products
Use the product rule to find derivative Use the product rule to find derivative
Use the product rule to find derivative Use the product rule to find derivative
To find the derivative use product rule To find the derivative use product rule
The functional role of pRB. The pRB protein product of RB1 The functional role of pRB. The pRB protein product of RB1
Video: Primate Evolutionary Tree Animation

For a complete list of videos, visit our video library