Table 11.10

-Refer to Table 11.10.The firm's resource supply curve is the _____
A)average total cost curve.
B)average variable cost curve.
C)marginal revenue product curve.
D)marginal resource cost curve.
E)average fixed cost curve.

Question

Table 11.10
 
-Refer to Table 11.10.The firm's resource supply curve is the _____
A)average total cost curve. 
B)average variable cost curve. 
C)marginal revenue product curve. 
D)marginal resource cost curve. 
E)average fixed cost curve.

Quizplus · Accepted Answer

The firm's resource supply curve shows the amount of a resource that the firm is willing and able to hire at each price. The marginal resource cost (MRC) curve represents the change in total cost of hiring one additional unit of the resource. Therefore, the correct answer is D) marginal resource cost curve.

Table 11.10 -Refer to Table 11.10.The Firm's Resource Supply Curve Is the Supply