The reason why a typical marginal cost curve rises beyond some point, is that the best...
The reason why a typical marginal cost curve rises beyond some point, is that the best and most productive workers hired "first" so when output expands only less productive workers (who are naturally not as productive as the fist workers hired), are left to employ.
True or False?
Homework Answers
False
Because we are assuming labour are homogeneous and they are equally productive.
Marginal cost increases beyond some point because due to diminish marginal product of labour. It means capital and labour combination is not uses in efficient way due to lack of capital availability.
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The reason why a typical marginal cost curve rises beyond some
point, is that the best...
please answer both Declining marginal product of labor O A. is needed if competitive firms are...
please answer both
Declining marginal product of labor O A. is needed if competitive firms are to stop hiring workers at some point. OB. allows firms to make the most profit. OC. mainly exists because workers get tired after many hours of work. OD. implies workers get more productive as more of them are hired. QUESTION 14 Improvements in productive technology that raise the marginal product of labor will cause a perfectly competitive firm's short-run labor demand curve to: O...
Question 2 (1 point) Ying Yue owns a bakery. She notices that every time she gets...
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1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal...
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please answer both
Declining marginal product of labor O A. is needed if competitive firms are to stop hiring workers at some point. OB. allows firms to make the most profit. OC. mainly exists because workers get tired after many hours of work. OD. implies workers get more productive as more of them are hired. QUESTION 14 Improvements in productive technology that raise the marginal product of labor will cause a perfectly competitive firm's short-run labor demand curve to: O...
Question 2 (1 point) Ying Yue owns a bakery. She notices that every time she gets another employee, that the number of additional baked good her business is able to produce is less then when she hired the previous employee. Which of the follow statements could be a reason for why this is so? There are only so many people who want to buy Ying Yue's baked goods. The more employees Ying Yue hires the higher Ying Yue's costs are....
4. For a monopoly firm, marginal revenue (MR) is price (greater/less) than 5. To maximize profits, a monopoly firm picks the quantity at which revenue average revenue) equals {marginal cost/average cost) (marginal (Game Theory/Consumer Theory) is a method for analyzing strategic behavior of oligopoly firms 7. The entry of the second firm under monopolistic competition structure of market shifts the demand curve of the first firm to the (right left). D Focus ch De 9 W 11. Firms in a...
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