Marginal factor cost (MFC) is
A) the additional cost generated by producing an additional unit of output.
B) the additional revenue generated by employing an additional factor unit.
C) the additional cost generated by employing an additional factor unit.
D) total cost from the production of a product divided by the total number of factor units used.
Correct Answer:
Verified
Q23: If for a firm MRP > MFC,
Q24: A firm that is perfectly competitive will
Q25: Exhibit 26-1 Q26: A firm will maximize its profits by Q27: The addition to total cost that results Q29: Why does the marginal revenue product (MRP) Q30: The firm's factor demand curve is the Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)MRP
