Marginal resource cost is:
A. The increase in variable costs resulting from producing one more unit of output
B. The increase in fixed costs resulting from producing one more unit of output
C. The same as the marginal cost of the product
D. The same as the resource price when a firm is acquiring the resource in a purely competitive market
D. The same as the resource price when a firm is acquiring the resource in a purely competitive market
Economics
You might also like to view...
The position of a cartel will become weaker if there is ________ excess-capacity among the firms belonging to the cartel
A) minimum B) no C) zero D) high
Economics
State the law of demand and illustrate it. Explain what is meant by the term "price" in the law of demand
What will be an ideal response?
Economics