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

Author Question: Which of the following is a condition for efficiency in the output market? A) MRT = MPL/MPK B) ... (Read 169 times)

Mr. Wonderful

  • Hero Member
  • *****
  • Posts: 866
on: Jul 1, 2018
Which of the following is a condition for efficiency in the output market?
 
  A) MRT = MPL/MPK
  B) The marginal rate of substitution is the same for all customers.
  C) The marginal rate of technical substitution must be the same for all producers.
  D) The marginal rate of transformation must equal the marginal rate of substitution.

Question 2

Refer to Scenario 12.2. Suppose that the marginal cost falls such that:
 
  MC = Q - 10
  What is the profit maximizing level of output?
  A) 171.43
  B) 120
  C) 150
  D) all of the above
  E) none of the above


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

wergv

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

C


Mr. Wonderful

  • Member
  • Posts: 866
Reply 2 on: Jul 1, 2018
:D TYSM

aliotak

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

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?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Man undergoing a stress test on a treadmill while physician monitors his condition Man undergoing a stress test on a treadmill while physician monitors his condition
Nephrolithiasis. Stones, or calculi, may form in several areas within the urinary tract. When they f Nephrolithiasis. Stones, or calculi, may form in several areas within the urinary tract. When they f
A mini clamp-on digital multimeter can be used to measure alternator output and unwanted AC current ... A mini clamp-on digital multimeter can be used to measure alternator output and unwanted AC current ...
A typical output driver. In this case, the PCM applies voltage to the fuel pump relay coil to ... A typical output driver. In this case, the PCM applies voltage to the fuel pump relay coil to ...
Dermatitis herpetiformis is a blistering skin condition associated with celiac disease. Dermatitis herpetiformis is a blistering skin condition associated with celiac disease.
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: Muscular Dystrophy

For a complete list of videos, visit our video library