Which of the Following Is False

question 106

Multiple Choice

Which of the following is false?

• A) A firm minimizes costs by buying factors in the combination at which the MPP-to-price ratio for each is the same.
• B) Marginal productivity theory states that firms in competitive or perfect product and factor markets pay factors their marginal revenue products.
• C) Marginal factor cost equals the wage rate for a factor price taker.
• D) The lower the elasticity of demand for the product labor produces, the higher the elasticity of demand for labor.

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Definitions:

Necessary Support

Assistance required to meet basic needs or to foster wellbeing, often in contexts of help or care services.

Accurate Information

Precise and correct data or knowledge communicated without any errors, biases, or distortions.

Initial Crisis

The beginning phase of a crisis situation where the immediate impact and response to a stressful or challenging event are most critical.

Debriefing

A process following a traumatic or critical incident, where participants are led through a structured conversation about the event to process and understand it.