In a perfectly competitive resource market:
A) marginal revenue for a product must always equal its price
B) the business is a price-maker
C) the business's resource demand curve is horizontal
D) the business's resource demand curve is vertical
E) the business's resource supply curve is horizontal
Correct Answer:
Verified
Q47: Resource pricing is important to economists mostly
Q48: If one worker can pick $30 worth
Q49: In resource markets:
A)businesses borrow money from households
B)households
Q50: The marginal revenue product curve is:
A)always vertical
B)the
Q51: Q53: The most important determinant of resource prices Q54: In a perfectly competitive resource market: Q55: Marginal resource cost can be defined as: Q56: Marginal productivity theory states that: Q57: 
A)resource suppliers
A)the
A)businesses demand resources
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