The optimal level of resource use comes when
a. MRP exceeds input price.
b. MRP is less than input price.
c. MRP equals input price.
d. use of the resource exhausts the producer's funds.
c
Economics
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The most important goal of the firm is to
A) maximize its revenues. B) maximize its sales volume. C) maximize its profits. D) minimize its costs.
Economics
Which best describes the relationship between the cost of acquiring information and return?
A) A high return must compensate for a high cost of acquiring information. B) A higher cost of information corresponds with a low return. C) A low cost of acquiring information corresponds with a high return. D) A higher return results in a lower cost of acquiring information.
Economics