Which of the following represents the resource supply curve for a firm that hires resources in a perfectly competitive resource market?
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

Quizplus · Accepted Answer

In a perfectly competitive resource market, the resource supply curve for a firm is represented by the marginal resource cost curve, which shows the additional cost of hiring one more unit of the resource.

Which of the Following Represents the Resource Supply Curve for a Firm