A profit maximizing price taker will produce at a level, Ask an Expert

Economics

A profit maximizing price taker will produce at a level where

a. the wage equals the marginal product of labor

b.the marginal revenue product of labor equals the price of their output

c. the wage rate equals the price of their output

d. the marginal revenue product of labor equals the wge rate

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91266018
Price:- $10

Guranteed 24 Hours Delivery, In Price:- $10

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question larry is investing in the martian stock market of

Question: Larry is investing in the Martian stock market of the future. Suppose Larry has the Utility function U(R, s)=R-0.3s^2. In this case R is "return", and s is "risk". Find the marginal rate of substitution of s fo ...

Question internal markets define the term principal-agent

Question: Internal markets Define the term principal-agent problem. What principal agent problems exists in the market? What principal agent problems exist in a firm? What are possible solutions to principal agent issues ...

Question suppose the utility function for a consumer is

Question: Suppose the utility function for a consumer is given by U = 5XY. X is the amount of Good X and Y is the amount of Good Y. A) Neatly sketch the utility function B) Does this utility function exhibit diminishing ...

Question mampms are colorful button shaped chocolates

Question: M&Ms are "colorful button shaped chocolates." Suppose that from our point of view as a consumer, each M&Ms: M&Ms is equally likely to have one of c different colors. We randomly sample 3 M&Ms: the two have the ...

Question qrs company pays its executives a higher annual

Question: QRS Company pays its executives a higher annual fixed base pay than TUV Company, but TUV makes a higher amount of its executives' compensation dependent on the performance of its stock. Assuming that their exec ...

Question you are an economist for the vanda-laye

Question: You are an economist for the Vanda-Laye Corporation, which produces and distributes outdoor cooking supplies. The company has come under new ownership and management and will be undergoing changes in its produc ...

Question acme furniture retails a chair for 250 they

Question: Acme furniture retails a chair for $250. They believe that they could raise the price of the chair by 10% and sell 30 fewer chairs per year. They have been selling 500 of these chairs per year at the current pr ...

Question 1 a due to a technological boom and rapid

Question: 1 (a) Due to a technological boom and rapid expansion of the economy, the Federal Reserve Bank is pursuing a contractionary monetary policy. Using a graphical analysis, show the effects of this policy on the eq ...

Question why is government spending an important factor in

Question: Why is government spending an important factor in economic stability? What actions might the federal government and the Federal Reserve take to give the economy a boost? What are these policies called? The resp ...

Question 1 in the country of wiknam the velocity of money

Question: 1) In the country of Wiknam, the velocity of money is constant. Real GDP grows by 5 Percent per year, the money stock grows by 14 percent per year, and the nominal interest rate is 11 percent. What is the real ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert