If a firm is a monopolist in its output market and a competitor in an input market, its input bundle will be chosen so that: A)VMP is not equal MRP for that input. B)VMP = MRP for that input. C)VMP MRP for that input. D)VMP

Question

If a firm is a monopolist in its output market and a competitor in an input market, its input bundle will be chosen so that:
A)VMP is not equal MRP for that input.
B)VMP = MRP for that input.
C)VMP > MRP for that input.
D)VMP < MRP for that input.

Quizplus · Accepted Answer

The Answer of If a firm is a monopolist in its output market and a competitor in an input market, its input bundle will be chosen so that:
A)VMP is not equal MRP for that input.
B)VMP = MRP for that input.
C)VMP > MRP for that input.
D)VMP < MRP for that input.

If a Firm Is a Monopolist in Its Output Market