Multiple Choice
When factor markets are competitive, it always pays a profit-maximizing firm to
A) use more of the factor.
B) bid very low prices for inputs.
C) reduce the use of all inputs.
D) use that quantity of input that makes MRP equal to the price of the input.
Correct Answer:

Verified
Correct Answer:
Verified
Q8: Mr.Calhoun owned a worn-out piece of farmland
Q15: Distinguish between invention and innovation.
Q35: If the interest rate on borrowing falls,<br>A)the
Q41: The demand curve for loanable funds is
Q44: Entrepreneurs differ from managers because<br>A)they use innovation
Q61: Almost all of the rent that tenants
Q139: Marginal productivity analysis shows that a drop
Q163: Usury laws carry the potential of hurting<br>A)borrowers.<br>B)lenders.<br>C)borrowers
Q222: A lottery promises a $250,000 prize.But the
Q224: Capital is a flow of resources into