Which of the following represents the resource supply curve faced by a firm that hires resources in a perfectly competitive resource market?
A)its ATC curve
B)its AVC curve
C)its MRP curve
D)its MRC curve
E)its AFC curve

Question

Quizplus · Accepted Answer

In a perfectly competitive resource market, the resource supply curve faced by a firm is its Marginal Resource Cost (MRC) curve, which is horizontal and equal to the market wage rate.

Which of the Following Represents the Resource Supply Curve Faced