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

Author Question: A profit-maximizing firm will employ a resource up to the point where a. its marginal resource cost ... (Read 89 times)

iveyjurea

  • Hero Member
  • *****
  • Posts: 555
on: Jun 30, 2018
A profit-maximizing firm will employ a resource up to the point where
 a. its marginal resource cost equals its marginal revenue product
  b. its marginal resource cost equals its marginal product
  c. its marginal resource cost equals the marginal revenue of the output
  d. its marginal resource cost equals the price of the resource
  e. the price of the resource equals the marginal revenue of the output

Question 2

If consumption of education creates a positive externality, then in order to increase efficiency relative to the outcome determined by private decisions,
 a. more education must be produced
  b. the same amount of education must be produced, and the price should be lower
  c. less education must be produced, and the price should be higher
  d. less education must be produced, and the price should be lower
  e. less education must be produced at the same price


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mirabriestensky

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

A


iveyjurea

  • Member
  • Posts: 555
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

nanny

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

« previous next »
 

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

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.
Your Culture and Your Point of View Your Culture and Your Point of View
Firm handshake Firm handshake
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
Calculate the distance from point R(17,5) to the line ... Round to the nearest tenth of a Calculate the distance from point R(17,5) to the line ... Round to the nearest tenth of a
Three point charges lie on the x x axis. Charge 1 (+9.9 μC μ C ) is at the origin, ... Three point charges lie on the x x axis. Charge 1 (+9.9 μC μ C ) is at the origin, ...
Video: Body plan of euglena Animation

For a complete list of videos, visit our video library