Marginal resource cost is:
A. The increase in a firm's total cost caused by hiring one additional unit of an input
B. A firm's cost of hiring one group of inputs, such as capital or labor
C. The firm's demand curve for a productive resource
D. Determined by the marginal physical product schedule for an input
A. The increase in a firm's total cost caused by hiring one additional unit of an input
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In the figure above, suppose the market is at equilibrium. Then area B is the
A) marginal benefit. B) marginal cost. C) amount of the consumer surplus. D) amount of the producer surplus. E) deadweight loss.
The Dodd-Frank Act requires that each member of the board of directors personally certify the accuracy of financial reports
Indicate whether the statement is true or false