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

Author Question: A profit-maximizing firm will hire extra units of a resource when a. marginal resource cost exceeds ... (Read 97 times)

khang

  • Hero Member
  • *****
  • Posts: 569
on: Jun 30, 2018
A profit-maximizing firm will hire extra units of a resource when
 a. marginal resource cost exceeds marginal revenue product
  b. marginal resource cost is equal to marginal revenue product
  c. marginal resource cost is less than marginal revenue product
  d. temporary resource price differentials exceed the marginal resource cost
  e. the average resource cost and marginal resource cost curves are equal

Question 2

Free markets produce too little output when
 a. negative externalities exist
  b. positive externalities exist
  c. production uses fixed-production technology
  d. production uses variable technology
  e. the resource is exhaustible


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

gabrielle_lawrence

  • Sr. Member
  • ****
  • Posts: 353
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

B


khang

  • Member
  • Posts: 569
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

isabelt_18

  • Member
  • Posts: 342
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
Units of Radiation Measurement Units of Radiation Measurement
Cost Accounting: A Managerial Emphasis 16th Edition Cost Accounting: A Managerial Emphasis 16th Edition
Expressing amounts of energy in different energy units is necessary to solve many chemistry ... Expressing amounts of energy in different energy units is necessary to solve many chemistry ...
Directions: Fill in the correct number or word(s). Order: Lantus U-100 insulin 68 units subcut ... Directions: Fill in the correct number or word(s). Order: Lantus U-100 insulin 68 units subcut ...
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
Video: Stretch reflex & Tendon reflex

For a complete list of videos, visit our video library