« previous next »

Author Question: A profit-maximizing firm will never hire that quantity of a factor of production for which that ... (Read 137 times)

nevelica

  • Hero Member
  • *****
  • Posts: 563
on: Jul 1, 2018
A profit-maximizing firm will never hire that quantity of a factor of production for which that factor has an increasing marginal productivity because
 a. it would not be maximizing output.
  b. it would not be maximizing the productivity of labor.
  c. it would not be minimizing costs.
  d. it would not be maximizing profits.

Question 2

If a profit-maximizing firm is a price taker in both the input and output markets, its marginal revenue product of labor is given by
 a. the price of its output times labor's marginal physical productivity.
  b. the marginal value product of labor.
  c. the marginal revenue product of capital times the ratio of the wage rate to the rental rate on capital.
  d. all of the above.


chreslie

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

nevelica

  • Hero Member
  • *****
  • Posts: 563
Reply #2 on: Jul 1, 2018
Thank you


chreslie

  • Sr. Member
  • ****
  • Posts: 307
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

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?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Mendel's analyses of single-factor crosses Mendel's analyses of single-factor crosses
Microlith production. Microlith production.
A model for factor-independent termination of transcription A model for factor-independent termination of transcription
Human of the planet's net primary production and appropriation of NPP Human of the planet's net primary production and appropriation of NPP
Firm handshake Firm handshake
Management Information Systems: Managing the Digital Firm, 15th Edition Management Information Systems: Managing the Digital Firm, 15th Edition
Video: Interview with Person who has Panic Attacks

For a complete list of videos, visit our video library