Multiple Choice
A firm increases its purchases of a factor of production in a perfectly competitive market from 10 units to 11 units.If the market price of the factor is $20 per unit, the marginal factor cost for the eleventh unit is:
A) $10.
B) $20.
C) $200.
D) $220.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q2: A change in expectations will not shift
Q3: Use the following to answer question(s): Wage
Q4: The demand for factors of production or
Q5: An increase in the participation rate of
Q7: If an increase in the use of
Q8: Throughout much of U.S.history, the supply of
Q9: Factor demand is said to be derived
Q10: Use the following to answer question(s): <img
Q11: A change in the quantity demanded of
Q22: In terms of labor supply,the income effect