The producer can raise the level of profit by hiring more units of a resource if:
a. the marginal revenue product of the resource is equal to the marginal factor cost.
b. the marginal factor cost becomes negative.
c. the marginal revenue product of the resource is greater than the marginal factor cost.
d. the marginal revenue product falls to zero.
e. the marginal revenue product of the resource is less than the marginal factor cost.
c
You might also like to view...
Which of the following is a root cause behind competition inherent in every society?
a. Unlimited wants of the people b. People's desire to acquire goods and services for free c. Scarcity of goods and services d. Genetic makeup of people
If its exports are greater than its imports, then a country has a:
A. trade deficit. B. trade surplus. C. government budget surplus. D. government budget deficit.