In the Long Run, a Firm Seeks the Combination of Two

question 223

Multiple Choice

In the long run, a firm seeks the combination of two factors a and b such that:

• A) MP_a/P_a = MP_b/P_b.
• B) MP_a/P_a < MP_b/P_b.
• C) MP_a/P_a > MP_b/P_b.
• D) MP_a/MP_b < P_a/P_b.

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Definitions:

Human Resource

The department within an organization that is responsible for hiring, training, employee relations, and benefits.

Employee Development Programs

Employee Development Programs are initiatives taken by organizations to enhance the professional growth and skill set of their employees, thereby boosting productivity and satisfaction.

Required Motivation

The necessary drive and incentive needed to encourage employees or individuals to achieve goals and perform tasks.

Necessary Abilities

The essential skills and competencies required to perform tasks or fulfill roles effectively.