For a Firm Buying Factors of Production in a Perfectly

question 13

Multiple Choice

For a firm buying factors of production in a perfectly competitive factor market:

• A) factors are hired where marginal revenue product is less than marginal factor cost.
• B) its marginal revenue product curve for a factor is its factor supply curve.
• C) the price of a factor will be greater than its marginal revenue product.
• D) the price of a factor will equal its marginal factor cost.

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Definitions:

Ambivalent

Having mixed feelings or contradictory ideas about something or someone.

Dental Hygienist

A licensed dental professional specializing in preventive oral health, typically focusing on techniques in oral hygiene.

Ambivalent Attachment

The attachment style for infants who are unwilling to explore an unfamiliar environment but seem to have mixed feelings about the caregiver—they cry when the caregiver leaves the room, but they cannot be consoled by the caregiver upon the caregiver’s return.

Secure

Feeling of being safe, stable, and free from fear or anxiety.