Which of the Following Statements Is False

question 5

Multiple Choice

Which of the following statements is false ?

• A)A profit maximizing firm that is a price taker in both product and factor markets will hire a factor up to the point at which the last unit of the factor hired adds as much to costs as it does to revenues.
• B)A profit maximizing firm that is a price taker in both product and factor markets will hire a factor up to the point at which the value of marginal product equals the wage rate.
• C)A profit maximizing firm that is a price taker in both product and factor markets will hire a factor up to the point at which the marginal revenue product equals the wage rate.
• D)A profit maximizing firm that is a price taker in both product and factor markets will hire a factor up to the point at which marginal physical product of the last worker hired equals zero.

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Definitions:

IT Steering Committee

A committee composed of a group of managers and staff representing various organizational units that is set up to establish IT priorities and to ensure that the MIS function is meeting the needs of the enterprise.

MIS Function

The role of Management Information Systems in processing data to provide information for decision-making.

Corporate Strategy

The approach and actions a company takes to achieve its business goals and to secure a competitive position in the market.

IT Steering Committee

A group of senior executives who provide direction, guidance, and oversight for an organization's IT strategies, policies, and investments.