答案和详解如下： Q5、Hay farmers are in a perfectly competitive market. Assume that each acre of land produces 100 bushels of hay. The marginal revenue product of an acre of land is then:
A) price of hay per bushel. B) (price of hay per bushel)/100. C) 100 × (price of hay per bushel). Correct answer is C) The marginal revenue product of an input is the extra revenue generated by an additional unit of that input, which is an acre of land in this case. If the firm is a price taker, then the additional output from the additional input does not change the price of the final good. Thus, the marginal revenue product is simply the extra output times the price of the output. Q6、A shop foreman determines that an employee would produce two more units of output if he worked one additional hour. The product currently sells for $15.00 per unit and the firm is a price taker. Which of the following choices most accurately describes the relationship between the marginal revenue (MR) and marginal revenue product (MRP) from the additional hour of labor input? A) MRP > MR. B) MR = $15 and MRP < MR. C) MRP = MR. Correct answer is A) By definition, the MR is the addition to total revenue from selling one more unit of output. The MRP is the revenue from selling the marginal product, which in this example is two units. Therefore the MRP must be greater than the MR. | 
发表于 2009-1-15 11:07
| 
