In a perfectly competitive situation, the profit-maximizing hiring situation for all inputs being used is where
A) the MRP of each input is equal to the price of each input.
B) the MRP of each input is greater than the price of each input.
C) the MRP of each input is less than the price of each input.
D) There is no relationship between MRP and the prices of the inputs.
Answer: A
Economics
You might also like to view...
The stimulus policy drew immediate criticism,
What will be an ideal response?
Economics
If children go to school and become productive members of society,
A) a negative externality is created by the schools. B) a positive externality is created by the schools. C) no externality is created by the schools. D) an externality is created that may be positive or negative.
Economics