A factor price taker is a firm that
A) can sell as many units of its good as it wants without affecting price.
B) sells fewer units of its good at higher prices than lower prices.
C) can buy all of a factor it wants at the equilibrium price.
D) drives up factor price if it buys an additional factor unit.
Correct Answer:
Verified
Q81: If MRP = VMP = MFC =
Q87: A perfectly competitive firm will maximize its
Q87: For a factor price taker, the marginal
Q88: The least-cost rule requires that, for every
Q89: Marginal productivity theory implies that a worker
Q90: Marginal productivity theory implies that a worker
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