« previous next »

Author Question: Suppose a firm is a price searcher in the product market and hires labor in a perfectly competitive ... (Read 122 times)

rayancarla1

  • Hero Member
  • *****
  • Posts: 571
on: Jun 30, 2018
Suppose a firm is a price searcher in the product market and hires labor in a perfectly competitive labor market. If the wage rate is 20, the marginal product of the last worker hired is 5, and the firm is hiring the profit-maximizing amount of labor, then the marginal revenue from the last unit of output must be
 a. 1
  b. 1.50
  c. 4
  d. 5
  e. 20

Question 2

Which of the following responses to a positive externality enhances society's welfare?
 a. taxes
  b. subsidies
  c. effluent fees
  d. quotas
  e. a cut in funding


allisonblackmore

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

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?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Norway lobsters on sale at a Spanish market Norway lobsters on sale at a Spanish market
Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact. Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact.
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product
Use the product rule to find derivative Use the product rule to find derivative
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
GloFish, marketed as the world’s first GM pet, are a controversial product of genetic engineering GloFish, marketed as the world’s first GM pet, are a controversial product of genetic engineering
Video: Genetic terms Animation

For a complete list of videos, visit our video library