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

Author Question: If an insurance company hires a resource in a perfectly competitive resource market and it wants to ... (Read 45 times)

ahriuashd

  • Hero Member
  • *****
  • Posts: 535
on: Jun 30, 2018
If an insurance company hires a resource in a perfectly competitive resource market and it wants to maximize profit, it will hire where marginal revenue product equals
 a. the price of the resource, which equals its marginal resource cost
  b. the price of the resource, which is greater than its marginal resource cost
  c. the price of the resource, which is less than its marginal resource cost
  d. marginal product
  e. the price of the product

Question 2

In order to increase society's well-being, a process that produces a positive externality might be
 a. taxed to discourage production
  b. subsidized to encourage production
  c. taxed to encourage production
  d. subsidized to discourage production
  e. provided without government intervention


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

beccamahon

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

B


ahriuashd

  • Member
  • Posts: 535
Reply 2 on: Jun 30, 2018
Excellent

Liamb2179

  • Member
  • Posts: 365
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Segregation according to resource factor among 40 species of British passerine birds. Segregation according to resource factor among 40 species of British passerine birds.
Resource partitioning among five species of warblers feeding in North American spruce trees. Resource partitioning among five species of warblers feeding in North American spruce trees.
The Stillwater Mining Company The Stillwater Mining Company
Christian Gladu, The Bungalow Company, The Birch, North Town Woods, Bainbridge Christian Gladu, The Bungalow Company, The Birch, North Town Woods, Bainbridge
Competitive drug enzyme immunoassay. Competitive drug enzyme immunoassay.
Iraqi market Iraqi market
Video: Stress and Immune System Animation

For a complete list of videos, visit our video library