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 181 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

nanny

  • Member
  • Posts: 313
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

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.

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.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Labor and delivery. Labor and delivery.
Product safety Product safety
A close relationship between greenhouse gas emissions and a country’s gross domestic product A close relationship between greenhouse gas emissions and a country’s gross domestic product
Marginal Products of Physical and Human Capital Marginal Products of Physical and Human Capital
The Stages of Labor and Birth in a Vaginal Delivery The Stages of Labor and Birth in a Vaginal Delivery
To find the derivative use product rule To find the derivative use product rule
Video: Renal Failure

For a complete list of videos, visit our video library