« previous next »

Author Question: If a firm fired one worker and lost 12 units of production and decides to add one more unit of ... (Read 145 times)

lracut11

  • Hero Member
  • *****
  • Posts: 536
on: Jul 1, 2018
If a firm fired one worker and lost 12 units of production and decides to add one more unit of capital, then to remain on the same isoquant what must be TRUE?
 
  A) The MPK of the next unit of capital added equals 12.
  B) The firm must force the other workers to work more.
  C) The firm will experience a decline in output.
  D) The marginal rate of technical substitution is greater than 12.

Question 2

Two firms sell 100 orange juice in 10 ounce bottles. The juice is only good for one week. The two firms have contracts for all the oranges produced in a large geographic area. Each firm decides how many bottles of juice to produce at the same time.
 
  This market is best described with a A) Bertrand model.
  B) Stackelberg model.
  C) monopolistic competition model.
  D) Cournot model.


daiying98

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

lracut11

  • Hero Member
  • *****
  • Posts: 536
Reply #2 on: Jul 1, 2018
Thank you


daiying98

  • Sr. Member
  • ****
  • Posts: 354
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

During World War I, advancing armies unloosed ferocious artillery barrages to destroy deeply entrenc During World War I, advancing armies unloosed ferocious artillery barrages to destroy deeply entrenc
A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact, A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact,
Production of Ethanol process Production of Ethanol process
Integrated Gasification Combined Cycle coal-fired stations Integrated Gasification Combined Cycle coal-fired stations
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Computer Literacy for IC3, Unit 2: Using Productivity Software, Update to Office 2013 & Windows ... Computer Literacy for IC3, Unit 2: Using Productivity Software, Update to Office 2013 & Windows ...
Video: Osteoporosis

For a complete list of videos, visit our video library