Multiple Choice
In order to maximize output from a technology that uses one variable input, one must employ the input in such a way that its:
A) MP is zero.
B) AP is at a maximum.
C) AP is zero.
D) MP is equal to its per- unit price.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q47: A profit maximizing firm would like to
Q48: SMC may be defined as the rate
Q49: Suppose that a firm uses a technology
Q50: Which of the following statements is necessarily
Q51: Suppose the production function is F(L,K)= 3L
Q53: K and L are perfect substitutes in
Q54: Which of the following is most likely
Q55: The law of diminishing returns to a
Q56: Self- interested commuters may choose a suboptimal
Q57: Suppose the production function for widgets is