A firm that is maximizing its profits will keep renting machines up to the point where:
a. the marginal productivity of a capital is maximized.
b. the marginal value product of machines is maximized.
c. the marginal value product of machines is equal to the market rental rate for machines.
d. the machine's market rental rate is minimized.
c
Economics
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In the classical model, the aggregate supply curve is
A) horizontal. B) vertical. C) upward sloping. D) downward sloping.
Economics
A "trade deficit" occurs when
A) we sell more to one country than another. B) we sell more to other countries than we buy from them. C) we buy more from other countries than we sell to them. D) we sell less to one country than another.
Economics