Solved

Marginal Factor Cost (MFC) Is

Question 74

Multiple Choice

Marginal factor cost (MFC) is


A) the additional cost incurred by employing an additional factor unit.
B) the additional output generated by employing an additional factor unit.
C) equal to factor price for a factor price taker.
D) a and c
E) b and c

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q69: If the MPP of the last unit

Q70: Exhibit 26-4<br>​<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 26-4 ​

Q71: If, at a particular wage rate in

Q72: Exhibit 26-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 26-1

Q73: The least-cost rule requires that, for every

Q75: The elasticity of demand for a factor

Q76: Refer to Exhibit 26-8. The dollar amounts

Q77: Exhibit 26-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 26-5

Q78: The demand for factors (which arises from

Q79: When a firm employs 1 unit of