The least-cost rule requires that, for every factor, the ratio of the
A) marginal physical product to factor price must be equal.
B) marginal revenue product to factor price must be equal.
C) marginal revenue product to output must be equal.
D) marginal cost to factor price must be equal.
E) b and c
Correct Answer:
Verified
Q80: Which of the following statements is true?
A)The
Q81: If MRP = VMP = MFC =
Q82: A perfectly competitive firm will maximize its
Q83: Exhibit 26-4 Q84: Marginal factor cost (MFC) is Q86: Marginal revenue product (MRP) is Q87: For a factor price taker, the marginal
A)the additional cost
A)equal to marginal
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