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Author Question: After employing her last laborer, Rachel notices that her Average Product has decreased. True or ... (Read 42 times)

misspop

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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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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





 

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