To minimize total costs for a particular rate of output, a firm will equate
A) the average cost of each factor.
B) the marginal revenue of each factor.
C) the marginal physical product per dollar spent on each factor.
D) the marginal revenue product and variable marginal revenue for each factor.
C
Economics
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An individual who holds some of her wealth in the form of money in order to pay rent and buy groceries is illustrating the transactions demand for money
a. True b. False Indicate whether the statement is true or false
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A shortage will occur at any price below equilibrium price and a surplus will occur at any price above equilibrium price
a. True b. False Indicate whether the statement is true or false
Economics