The Rule for the Optimal Use of Any Input Says

question 36

Multiple Choice

The rule for the optimal use of any input says that

• A)when MRP is less than price, it pays to expand resource use.
• B)when MRP is greater than price, it pays to expand resource use.
• C)when MRP equals price, resource use should be cut back.
• D)resources should be used only if MRP exceeds price.

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Definitions:

Tobacco Economy

A segment of the American economy, particularly in the early colonies, heavily reliant on the cultivation and export of tobacco as a cash crop.

Maryland

A state located in the Mid-Atlantic region of the United States, notable for its rich history and as the home of the Chesapeake Bay.

Uprising Of 1622

A significant conflict between Indigenous American peoples and English colonists in Virginia, also known as the Powhatan Uprising, leading to the early settlers' struggle for survival.

Balance Of Power

A principle in international relations that aims to prevent any one nation or group of nations from becoming too strong.