For a product price searcher (such as a monopolist) ,
A) P > MR, therefore VMP < MRP.
B) P = MR, therefore VMP = MRP.
C) P > MR, therefore VMP > MRP.
D) P < MR, therefore VMP < MRP.
Correct Answer:
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Q41: A firm obeys the least-cost rule for
Q42: Firm X is a monopolistic competitive firm
Q43: Value marginal product (VMP) equals
A)P x MPP.
B)P/MPP.
C)P
Q44: For a perfectly competitive firm,
A)VMP > MRP.
B)VMP
Q45: Applying the least-cost rule to two factors,
Q47: Value marginal product (VMP) is
A)a measure of
Q48: For a perfectly competitive firm, when the
Q49: Elasticity of demand for labor measures the
Q50: A measure of the value that one
Q51: For a perfectly competitive firm, a decrease
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