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

Author Question: At the competitive equilibrium quantity supplied equals quantity demanded in all markets. ... (Read 75 times)

fnuegbu

  • Hero Member
  • *****
  • Posts: 539
on: Jul 1, 2018
At the competitive equilibrium quantity supplied equals quantity demanded in all markets.
 
  Indicate whether the statement is true or false

Question 2

At the XYZ Co, a unit of capital costs 3 times as much as a unit of labor. If the isoquants are convex, and the firm does not change its input mix in the long run, we can conclude that
 
  A) MPK = 3  MPL.
  B) the firm will not hire any capital.
  C) the firm will hire 3 times as much labor as capital.
  D) the firm will hire 3 times as much capital as labor.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

momo1250

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

True . When the MRS = MRT = ratio of prices, the optimal product mix is produced efficiently and firms sell at marginal cost.

Answer to Question 2

A


fnuegbu

  • Member
  • Posts: 539
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

ultraflyy23

  • Member
  • Posts: 312
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Non-competitive inhibition Non-competitive inhibition
Vapour-liquid equilibrium acetone + water Vapour-liquid equilibrium acetone + water
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
A buffer solution is prepared using 0.5 moles of a weakly basic drug and an unknown quantity of ... A buffer solution is prepared using 0.5 moles of a weakly basic drug and an unknown quantity of ...
Write the acidic equilibrium equation for HC₆H₅O. Write the acidic equilibrium equation for HC₆H₅O.
Video: Introduction to Diabetes

For a complete list of videos, visit our video library