Which of the following statements is false?
A) A firm minimizes costs by buying factors in the combination at which the MPP-to-price ratio for each is the same.
B) Marginal productivity theory states that firms in competitive or perfect product and factor markets pay factors their marginal revenue products.
C) Marginal factor cost equals the wage rate for a factor price taker.
D) The lower the elasticity of demand for the product labor produces, the higher the elasticity of demand for labor.
Correct Answer:
Verified
Q171: If for a given individual, between a
Q172: "Screening" is the process used by
A)employers to
Q173: Situation 26-2
A company is trying to decide
Q174: Situation 26-1 Q175: Which of the following statements is false? Q177: Situation 26-2 Q178: Situation 26-2 Q179: Refer to Exhibit 26-8. The dollar amounts Q180: Consider two labor markets, C and D. Q181: What does the elasticity of demand for
A)The
A company is trying to decide
A company is trying to decide
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