A price searcher (monopolist,oligopolist,etc.)will maximize its profits by hiring factors up to the point at which

Name: A price searcher (monopolist,oligopolist,etc.)will maximize its profits by hiring factors up to the point at which
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Question

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A price searcher maximizes profits by hiring factors until the marginal revenue product (MRP) equals the marginal factor cost (MFC), as this is the point where the cost of hiring an additional unit of a factor equals the revenue generated by that unit.

A Price Searcher (Monopolist,oligopolist,etc