--%>
Assignment Help - homework help

Marginal Resource Costs

The word ‘marginal resource costs’ or ‘marginal factor costs’ signifies to the: (1) Additional cost included in generating an additional resource. (2) Additional cost included in generating an additional unit of the resource. (3) Additional cost included in hiring the additional unit of the resource. (4) Modification in total cost incurred in generating of one more unit of output.

Choose the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Problem on Substitution effect for good

    One of my friend has a problem on substitution effect. The original equilibrium point (that is utility-maximizing bundle) in the graph shown below is at point A. The price of good Y is increased, pivoting the budget constraint down to its latest level.a. F

    		•
  • Q : Problem on spending shares of national

    The view which big corporations unfailingly capture much stable shares of spending out of national income is: (i) Accepted by almost all the economists. (ii) Contrary to the confirmation of turnover among big over the decades. (iii) The symptom of strong competition.

    		•
  • Q : Problem on unionized construction

    The passage of a significantly higher legal minimum wage would be most probable to advantage: (1) College professors. (2) American high-school dropouts in their teens. (3) Philosophy majors. (4) Unionized construction workers. (5) Foreign workers whose production is e

    		•
  • Q : Abandonment of perfect competition This

    This needs to be identified that general abandonment of supposition of perfect competition, universal adoption of supposition of monopoly, need to have extremely destructive consequences for economic theory.” 

    		•
  • Q : Optimal market solution of marginal

    From society’s point of view, an optimal market solution is attained while: (w) everyone’s income is equal. (x) all goods are given in the economy. (y) marginal social costs only equal marginal social benefits. (z) consumer surplus equals

    		•
  • Q : Reform National Welfare Before the

    Before the national welfare reform of 1996s, where Aid to Families with Dependent Children [AFDC]: (w) was the principal government program intended to alleviate poverty. (x) was exempt from any form of taxation. (y) generated pressur

    		•
  • Q : Economic profit in the short run by

    This illustrated graph is most consistent along with the environment confronted through a: (w) purely competitive firm which makes economic profit within the short run. (b) monopolistically-competitive firm into long run equilibrium. (c) firm along with oligopoly powe

    		•
  • Q : Operating competitors with market power

    A firm operating along with a lot of competitors but that still has some control over price is a: (i) pure quantity adjuster. (ii) member of an oligopoly. (iii) purely competitive firm. (iv) firm with some market power. (v) cartel.

  • Q : Relatively market power The firm from

    The firm from the given list with relatively the most market power would probably be: (w) General Motors. (x) the world's biggest wheat farm. (y) a gas station in Wayout, Wyoming that has no competitors into 70 miles. (z) the BestBuy in Durham, North

    		•
  • Q : Operates a profit-maximizing firm When

    When this profit-maximizing firm as in illustrated graph can’t price discriminate in that case this will operate where is: (1) accounting profit is positive but economic profit is zero. (2) the demand curve facing the firm is th

    		•