The rule for the optimal use of any input says that
a. when MRP is less than price, it pays to expand resource use.
b. when MRP is greater than price, it pays to expand resource use.
c. when MRP equals price, resource use should be cut back.
d. resources should be used only if MRP exceeds price.
b
Economics
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Explain the concept of utility
Economics
The market demand curve
a. is found by vertically adding the individual demand curves. b. slopes upward. c. represents the sum of the prices that all the buyers are willing to pay for a given quantity of the good. d. represents the sum of the quantities demanded by all the buyers at each price of the good.
Economics