« previous next »

Author Question: Refer to Scenario 14.2. If each unit of output sells for 5, how many days of labor will the firm ... (Read 131 times)

sam.t96

  • Hero Member
  • *****
  • Posts: 570
on: Jul 1, 2018
Refer to Scenario 14.2. If each unit of output sells for 5, how many days of labor will the firm hire to maximize profit?
 
  A) 1
  B) 2
  C) 3
  D) 4
  E) 5

Question 2

What condition may provide for a relatively small degree of inefficiency under monopolistic competition?
 
  A) There is a single seller and no product differentiation.
  B) The marginal cost of production is less than the market price.
  C) The demand curve is relatively elastic so that the price is near the long-run minimum average cost.
  D) There is only one buyer in the market.


irishcancer18

  • Sr. Member
  • ****
  • Posts: 310
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

sam.t96

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jul 1, 2018
Correct answers!


irishcancer18

  • Sr. Member
  • ****
  • Posts: 310
Reply #3 on: Jul 1, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Components of nail unit Components of nail unit
Unit Pricing Comparison Unit Pricing Comparison
The major cortical input and output pathways of the posterior parietal association cortex. Shown are ... The major cortical input and output pathways of the posterior parietal association cortex. Shown are ...
Management Information Systems: Managing the Digital Firm, 15th Edition Management Information Systems: Managing the Digital Firm, 15th Edition
A Partially Filled 100-Unit Insulin Syringe A Partially Filled 100-Unit Insulin Syringe
Which of the following unit factors is not related to a 0.100 M NaBr solution? A Which of the following unit factors is not related to a 0.100 M NaBr solution? A
Video: Medullary osmotic gradient: countercurrent multiplier, urea recycling & vasa recta countercurrent exchange

For a complete list of videos, visit our video library