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

Author Question: The diagram below shows the MRP curve for a firm producing copper plumbing pipe. The factor of ... (Read 59 times)

desireelg_7

  • Full Member
  • ***
  • Posts: 146
on: Oct 12, 2022

The diagram below shows the MRP curve for a firm producing copper plumbing pipe. The factor of production being considered here is hours of labour.



FIGURE 13-1

Refer to Figure 13-1. Suppose this firm is facing MRP1, a wage rate of $12 per hour and is employing 150 units of labour. At this level of employment,


◦ the last unit of labour contributes as much to the firm's costs as to the firm's revenues and so the firm should not change its use of labour.
◦ the last unit of labour is adding more to the firm's cost than it is adding to the firm's revenue, so it should reduce the use of labour.
◦ the last unit of labour is adding less to the firm's cost than it is adding to the firm's revenue, so it should increase the use of labour.
◦ the firm has shifted the MRP curve to MRP3.
◦ the firm has shifted the MRP curve to MRP2.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by desireelg_7 on Oct 12, 2022

Nutellas_Good

  • Full Member
  • ***
  • Posts: 156
Reply #1 on: Oct 12, 2022
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 29% of students answer this correctly


desireelg_7

  • Member
  • Posts: 146
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Energy-flow diagram for a Georgia salt marsh. Energy-flow diagram for a Georgia salt marsh.
Anatomy diagram Anatomy diagram
Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator
Oxygen-binding curve for myoglobin Oxygen-binding curve for myoglobin
How much heat energy in Joules is required to heat 16.0 g of copper from 23.0 °C How much heat energy in Joules is required to heat 16.0 g of copper from 23.0 °C
A 1000-kg car is slowly picking up speed as it goes around a horizontal unbanked curve whose ... A 1000-kg car is slowly picking up speed as it goes around a horizontal unbanked curve whose ...
Video: Stroke volume - afterload definition & hypertension

For a complete list of videos, visit our video library