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

Author Question: In the resource market, firms demand resources in order to a. maximize profit b. maximize total ... (Read 263 times)

Tirant22

  • Hero Member
  • *****
  • Posts: 532
on: Jun 30, 2018
In the resource market, firms demand resources in order to
 a. maximize profit
  b. maximize total revenue
  c. maximize marginal revenue
  d. maximize utility
  e. minimize cost

Question 2

The socially optimal level of output of a good with an externality occurs when
 a. the marginal private costs of production are equal to marginal private revenues
  b. the firm maximizes its profits
  c. the consumer maximizes his or her utility
  d. the marginal social cost of production equals the marginal social benefit of the good
  e. the firm is making a normal profit


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

anoriega3

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

D


Tirant22

  • Member
  • Posts: 532
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

dawsa925

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Myocardial Oxygen supply and demand Myocardial Oxygen supply and demand
Natural Resources and Industry Natural Resources and Industry
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
Relationship between Resource Use and Growth Relationship between Resource Use and Growth
Resources from Rocks and Minerals Resources from Rocks and Minerals
Competitive firms and maximization Competitive firms and maximization
Video: Simple Diffusion - gases and nonpolar compounds transport

For a complete list of videos, visit our video library