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Author Question: After employing her last laborer, Rachel notices that her Average Product has decreased. True or ... (Read 39 times)

misspop

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on: Jul 1, 2018
After employing her last laborer, Rachel notices that her Average Product has decreased. True or False: Her marginal cost is greater than her average variable cost.
 
  Indicate whether the statement is true or false

Question 2

If Ann's utility function is U = W0.5, and she invests in a business which can yield 6,400 with probability 1/5, and 3600 with probability 4/5, then her expected utility is
 
  A) 80.
  B) 76.
  C) 64.
  D) 60.


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joanwhite

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Reply #1 on: Jul 1, 2018
Answer to Question 1

True . The decrease in average product indicates an increase in average variable cost. The average variable cost rises when the marginal cost is greater than the AVC.

Answer to Question 2

C


misspop

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Reply #2 on: Jul 1, 2018
Thank you :)


joanwhite

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Reply #3 on: Jul 1, 2018
Happy to help you


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