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It can be mentioned that in this case, though the profit rate is decreasing, continuously one is obtaining profit and this goes on and the maximum profit will be obtained at a rate where the profit rate is zero and this is because till that point profit is added and after that loss occurs which reduces the level of profit.
Therefore (b) profit rate on output is equal to zero is the answer to the question
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Question 11 1 pts If the Profit Rate on Output is declining with more output while the Marginal Product is constant...
Question 11 1 pts If the Profit Rate on Output is declining with more output while...
Question 11 1 pts If the Profit Rate on Output is declining with more output while the Marginal Product is constant with more output, then maximum profit is reached where: Profit Rate on Output is equal to zero Marginal Revenue is equal to zero Marginal Profit is equal to zero Marginal Product is equal to zero
1 pts Question 11 If the Profit Rate on Output is declining with more output while...
1 pts Question 11 If the Profit Rate on Output is declining with more output while the Marginal Product is constant with more output, then maximum profit is reached where: Profit Rate on Output is equal to zero Marginal Product is equal to zero Marginal Revenue is equal to zero Marginal Profit is equal to zero Previous Next
if the profit rate on output is declining with more output while the marginal product is...
if the profit rate on output is declining with more output while the marginal product is constant with more output, then the maximum profit is reached when Profit rate on output is equal to zero Marginal revenue is equal to zero Marginal Product is equal to zero Marginal Profit is equal to zero
Question 55 1 pts If the value of the marginal product of labor exceeds the wage,...
Question 55 1 pts If the value of the marginal product of labor exceeds the wage, then the firm could increase profit by hiring additional labor. increase profit by reducing the amount of labor hired. increase revenue by lowering output. O reduce total cost by hiring additional workers. Question 56 1 pts Diminishing marginal product suggests that
A profit-maximizing monopolist will continue expanding output as long as: o marginal revenue exceeds marginal cost....
A profit-maximizing monopolist will continue expanding output as long as: o marginal revenue exceeds marginal cost. o marginal revenue is positive. o the cost of producing an additional unit exceeds the marginal revenue derived from the unit. o economic profit is more than zero.
decrease its rate of output to offset the higher variable co QUESTION 28 When demand is...
decrease its rate of output to offset the higher variable co QUESTION 28 When demand is perfectly elastic, marginal revenue is O equal to price. O declining. o increasing. o zero. QUESTION 29
1)The marginal product of labor is equal to the A. total product divided by the total...
1)The marginal product of labor is equal to the A. total product divided by the total number of workers hired. B. increase in the total product that results from hiring one more worker. C. slope of the marginal product of labor curve. D. None of the above answers are correct. 2) The marginal product of labor is the increase in total product from a A. one dollar increase in the wage rate, while holding the price of capital constant. B....
18 20,21,22,23 Question 18 2 pts The marginal revenue received by a firm in a perfectly...
18 20,21,22,23
Question 18 2 pts The marginal revenue received by a firm in a perfectly competitive market: O is greater than the market price. O is equal to its average revenue. increases with the quantity of output sold. is less than the market price. Question 20 2 pts An individual firm in a perfectly competitive industry faces a demand curve with O unit elasticity O elasticity greater than zero but less than one. zero elasticity infinite elasticity Question 21...
Question 5 1 pts Diseconomies of scale occur when a firm's marginal costs are constant as...
Question 5 1 pts Diseconomies of scale occur when a firm's marginal costs are constant as output increases. long-run average total costs are decreasing as output increases. long-run average total costs are increasing as output increases. O marginal costs are equal to average total costs for all levels of output. Question 6 1 pts
Question 31 2.5 pts 31. A firm in a perfectly competitive industry has total revenue of...
Question 31 2.5 pts 31. A firm in a perfectly competitive industry has total revenue of $200,000 per year when producing 1,000 units of output per year. In this case its average revenue is $200 and its marginal revenue is __ zero. also $200 less than $200. O greater than $200 Question 32 2.5 pts 32. In a perfectly competitive industry, the market price of the product is $12.Firm A is producing the output at which average total cost equals...
Question 11 1 pts If the Profit Rate on Output is declining with more output while the Marginal Product is constant with more output, then maximum profit is reached where: Profit Rate on Output is equal to zero Marginal Revenue is equal to zero Marginal Profit is equal to zero Marginal Product is equal to zero
1 pts Question 11 If the Profit Rate on Output is declining with more output while the Marginal Product is constant with more output, then maximum profit is reached where: Profit Rate on Output is equal to zero Marginal Product is equal to zero Marginal Revenue is equal to zero Marginal Profit is equal to zero Previous Next
Question 55 1 pts If the value of the marginal product of labor exceeds the wage, then the firm could increase profit by hiring additional labor. increase profit by reducing the amount of labor hired. increase revenue by lowering output. O reduce total cost by hiring additional workers. Question 56 1 pts Diminishing marginal product suggests that
A profit-maximizing monopolist will continue expanding output as long as: o marginal revenue exceeds marginal cost. o marginal revenue is positive. o the cost of producing an additional unit exceeds the marginal revenue derived from the unit. o economic profit is more than zero.
decrease its rate of output to offset the higher variable co QUESTION 28 When demand is perfectly elastic, marginal revenue is O equal to price. O declining. o increasing. o zero. QUESTION 29
18 20,21,22,23
Question 18 2 pts The marginal revenue received by a firm in a perfectly competitive market: O is greater than the market price. O is equal to its average revenue. increases with the quantity of output sold. is less than the market price. Question 20 2 pts An individual firm in a perfectly competitive industry faces a demand curve with O unit elasticity O elasticity greater than zero but less than one. zero elasticity infinite elasticity Question 21...
Question 5 1 pts Diseconomies of scale occur when a firm's marginal costs are constant as output increases. long-run average total costs are decreasing as output increases. long-run average total costs are increasing as output increases. O marginal costs are equal to average total costs for all levels of output. Question 6 1 pts
Question 31 2.5 pts 31. A firm in a perfectly competitive industry has total revenue of $200,000 per year when producing 1,000 units of output per year. In this case its average revenue is $200 and its marginal revenue is __ zero. also $200 less than $200. O greater than $200 Question 32 2.5 pts 32. In a perfectly competitive industry, the market price of the product is $12.Firm A is producing the output at which average total cost equals...
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