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 98 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
Wow, this really help

tuate

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

In one-male group species, extra males typically reside in all-male “bachelor” groups. These are Han In one-male group species, extra males typically reside in all-male “bachelor” groups. These are Han
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
How to convert between imperial and metric units (Part 1) How to convert between imperial and metric units (Part 1)
Infant formula is available in several forms and varies in cost and ingredients Infant formula is available in several forms and varies in cost and ingredients
Growth of a Renewable Resource Growth of a Renewable Resource
Cost Accounting 14 Cost Accounting 14
Video: DNA fingerprinting Animation

For a complete list of videos, visit our video library