According to the Principle of Marginal Productivity, If

question 22

Multiple Choice

According to the principle of marginal productivity, if

• A) the product price is less than MRP, the firm is using too little of the input.
• B) the price of an input rises, the quantity demanded of the input will increase.
• C) MRP is greater than product price, the firm should reduce the use of the input.
• D) price of the input equals MRP, the firm is maximizing profit.

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Definitions:

Misdemeanors

Lesser criminal acts that are punishable by fines or imprisonment for a short period, not in a high-security facility.

Criminal Law

The body of law that relates to crime and the regulation of social conduct by defining offenses and setting penalties for those who violate laws.

Felonies

Serious crimes usually punishable by imprisonment for more than one year or by death.

Preponderance Of The Evidence

A standard of proof in civil cases that means the greater weight of the evidence must favor the party seeking to meet the burden of proof.