If the MRP of Land Is Greater Than Its Price

question 81

Multiple Choice

If the MRP of land is greater than its price, a firm should

• A) use more land.
• B) use less land.
• C) try to increase the productivity of land.
• D) decrease the price it is willing to pay for land.

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Definitions:

Central Tendency

A statistical measure that identifies the middle or center of a distribution of data, commonly represented by the mean, median, or mode.

Mean, Median, Mode

Statistical measures where mean is the average of a dataset, median is the middle value, and mode is the most frequently occurring value.

Professionalism

The exhibition of skills, good judgment, and polite behavior expected from a person who is trained to do a job well.