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If a Firm Is Unable to Influence the Price of a Variable

Question 84

Multiple Choice

If a firm is unable to influence the price of a variable productive resource by buying more or less of it,then the marginal cost of the resource is equal to the:


A) price of the resource.
B) marginal product of the resource.
C) price of a unit of the firm's output.
D) minimum average cost of producing the product.

Correct Answer:

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