For a Given Firm, Marginal Factor Cost Is the Same

question 164

Multiple Choice

For a given firm, marginal factor cost is the same dollar amount no matter what quantity of a factor it purchases. For this firm,

• A)VMP = MRP.
• B)VMP > MRP.
• C)MRP > VMP.
• D)MPP necessarily declines beginning with the first factor unit.
• E)none of the above

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