« 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 111 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?

There are more bacteria in your mouth than there are people in the world.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Using the voltmeter leads from a starting and charging test unit to measure the voltage drop ... Using the voltmeter leads from a starting and charging test unit to measure the voltage drop ...
A Chrysler electronic ignition distributor. This unit is equipped with a vacuum advance mechanism ... A Chrysler electronic ignition distributor. This unit is equipped with a vacuum advance mechanism ...
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 ...
One unit of clathrate structure surrounding a hydrophobic molecule (yellow) One unit of clathrate structure surrounding a hydrophobic molecule (yellow)
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle
Video: Calvin cycle (The light-independent reactions )

For a complete list of videos, visit our video library