Multiple Choice
Firms will continue to increase their purchase of factor inputs as long as ________.
A) the marginal product of a given factor is greater than its real factor price
B) the marginal cost of a given factor is lower than its marginal product
C) their total revenues are greater than their total costs
D) all of the above
E) none of the above
Correct Answer:

Verified
Correct Answer:
Verified
Q18: Which of the following is true about
Q19: Suppose that reduced barriers to international financial
Q20: The three oil shocks the U.S.experienced in
Q21: Use the Cobb-Douglas production function to show
Q22: From the Cobb-Douglas production function we learn
Q24: To get the first order conditions in
Q25: Which of the following is true about
Q26: Consider an economy in which 350 =
Q27: Key determinants of economic profit include _.<br>A)the
Q28: In an economy with production function Y