To Maximize Profit,the Firm Must Equate the

question 114

Multiple Choice

To maximize profit,the firm must equate the

• A)wage rate to the price of the good.
• B)wage rate to the marginal product of labour.
• C)value of marginal product to the factor price.
• D)marginal factor cost to the price of the output.
• E)marginal cost of the factor to the marginal product of the factor.

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Definitions:

Combine

Refers to the process of joining two or more items together to form a single entity, used in various contexts including mathematics, where it may involve summing like terms.

Combine

The act of joining or merging two or more items into a single entity, often used in mathematical operations like addition or combination.

Simplify

The process of making an expression easier to understand or solve by reducing it to its most basic form.

Combine

To merge or unite two or more items or quantities to form a single entity.