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

Author Question: The statement: If everyone trades in the competitive marketplace, all mutually beneficial trades ... (Read 413 times)

Jramos095

  • Hero Member
  • *****
  • Posts: 528
on: Jul 1, 2018
The statement: If everyone trades in the competitive marketplace, all mutually beneficial trades will be completed, and the resulting equilibrium allocation of resources will be economically efficient. is formally known as:
 
  A) the law of supply and demand.
  B) the first theorem of supply and demand.
  C) the first theorem of welfare economics.
  D) the first theorem of efficiency in economics.

Question 2

Use the data in the table below to answer the following questions about a firm.
 
  Units of Units of Total Marginal Output
   Input X Input Y Product Product of X Price
 
   0 25 0 10
   1 25 2 10
   2 25 7 10
   3 25 14 10
   4 25 20 10
   5 25 23 10
   6 25 24 10
 
  a. Complete the table by calculating the marginal product of input X.
  b. Compute the marginal revenue produce of input X.
  c. If the price of input X were 30 per unit, how many units should the firm use per unit of time to maximize profit? Explain why profit is maximized.
Statistics, Data Analysis, and Decision Modeling ¦ Evans ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lkoler

  • Sr. Member
  • ****
  • Posts: 358
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


Harps johnston

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Jul 25, 2022
thank you


« previous next »
 

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Competitive inhibition Competitive inhibition
competitive inhibition competitive inhibition
Socrates thrived on the intellectual life of the agora (the marketplace), where he could be sure to ... Socrates thrived on the intellectual life of the agora (the marketplace), where he could be sure to ...
Stone Massage: Beneficial Effects, Therapeutic Uses, and Contraindications Stone Massage: Beneficial Effects, Therapeutic Uses, and Contraindications
Effects of competitive inhibition on enzyme kinetics Effects of competitive inhibition on enzyme kinetics
Project Management: Achieving Competitive Advantage, 5th Edition Project Management: Achieving Competitive Advantage, 5th Edition
Video: Sigmoidoscopy

For a complete list of videos, visit our video library