The optimum resource mix for a firm would be
A) wage rate/rent = MRP of labor/MRP of land.
B) wage rate / rent = MRP of labor * MRP of land.
C) MRP of labor/wage rate = MRP of land/rent.
D) None of these choices are correct.
Correct Answer:
Verified
Q3: White-collar employment has risen sharply since the
Q4: The additional revenue obtained by selling the
Q5: The firm will rent more and more
Q6: The demand for goods and services is
Q7: A firm will continue hiring labor as
Q9: As output rises,
A)both marginal revenue product and
Q10: The substitution effect and the output effect
Q11: The additional output that one additional input
Q12: Productivity is _ per unit of _.
A)output;input
B)input;output
C)labor;capital
D)None
Q13: More complementary resources would tend to
A)raise the
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