This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the marginal product of the last dollar spent on labor is less than the marginal product of the ... (Read 62 times)

swpotter12

  • Hero Member
  • *****
  • Posts: 527
on: Apr 19, 2019

Question 1

For a firm to maximize profits, the marginal product of the last dollar spent on each resource must be equal.


◦ true
◦ false

Question 2

If the marginal product of the last dollar spent on labor is less than the marginal product of the last dollar spent on capital, the firm can produce more output by spending less on capital and more on labor.


◦ true
◦ false
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by swpotter12 on Apr 19, 2019

tsternbergh47

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


swpotter12

  • Hero Member
  • *****
  • Posts: 527
Reply #2 on: Apr 19, 2019
Thank you!


tsternbergh47

  • Sr. Member
  • ****
  • Posts: 311
Reply #3 on: Apr 19, 2019
Always glad to help...


« previous next »
 

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

A graphical representation of the marginal value theorem. A graphical representation of the marginal value theorem.
This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc
North Korea: Labor Issues North Korea: Labor Issues
Find derivative using product rule Find derivative using product rule
Find derivative using product rule Find derivative using product rule
Excel hardware is introducing a new product on a new product line of capacity 800 units per ... Excel hardware is introducing a new product on a new product line of capacity 800 units per ...
Video: Amniocentesis and CVS Animation

For a complete list of videos, visit our video library