At any quantity, the marginal factor cost is always
A) parallel to the marginal revenue product.
B) below the labor supply curve.
C) above the labor supply curve.
D) above the labor demand curve.
Answer: C
Economics
You might also like to view...
The fact that the production function relating output to labor becomes flatter as we move from left to right means that
A) the marginal product of labor is positive. B) the marginal product of capital is positive. C) there is diminishing marginal productivity of labor. D) there is diminishing marginal productivity of capital.
Economics
When marginal cost is rising, average total cost is rising
Indicate whether the statement is true or false
Economics