If the Marginal Revenue Product of an Input Is Greater

question 50

Multiple Choice

If the marginal revenue product of an input is greater than its price, the

• A)firm should decrease its use of the input to bring the two values into equality.
• B)firm should raise the price of the product.
• C)firm should increase the use of the input to bring the two values into equality.
• D)firm should search for another input to use in its production.

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Definitions:

Refusing

The act of denying or rejecting a proposal, request, or command.

Laughing

An involuntary response to certain external or internal stimuli, often associated with amusement, joy, or relief.

Internalization of Schemes

The process by which children absorb and integrate new information and experiences into their existing cognitive structures or schemas.

Months

units of time in the calendar, typically used to measure periods of about 30 days long, which together constitute a year.