In long- run equilibrium, for a firm which is a monopolist in its output market and a perfect competitor in its input markets: A)w = VMP for all inputs. B)w = MRP VMP for all inputs. C)p = LRMC. D)w = MRP

Question

In long- run equilibrium, for a firm which is a monopolist in its output market and a perfect competitor in its input markets:
A)w = VMP for all inputs.
B)w = MRP > VMP for all inputs.
C)p = LRMC.
D)w = MRP < VMP for all inputs.

Quizplus · Accepted Answer

The Answer of In long- run equilibrium, for a firm which is a monopolist in its output market and a perfect competitor in its input markets:
A)w = VMP for all inputs.
B)w = MRP > VMP for all inputs.
C)p = LRMC.
D)w = MRP < VMP for all inputs.

In Long- Run Equilibrium, for a Firm Which Is a Monopolist