If the marginal products of all inputs are identical, for the firm to be in long- run equilibrium:
A) input prices cannot be identical.
B) the output market must be perfectly competitive.
C) the firm must use just two inputs.
D) all input prices must be identical.
Correct Answer:
Verified
Q1: An increase in the wage rate:
A)rotates outward
Q2: In a competitive market, firms value inputs:
A)the
Q4: If an input market is monopsonistic, and
Q5: A firm which is a competitor in
Q6: Consider a firm which is initially in
Q7: In long- run equilibrium, for a firm
Q8: In long- run equilibrium a firm that
Q9: The value of an input to a
Q10: As a response to a change in
Q11: Input z is the only variable input
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