Suppose a Factor Price Taker Purchases One Unit of Factor

question 157

Multiple Choice

Suppose a factor price taker purchases one unit of factor X for $10. At what price would it purchase the second unit, and what would marginal factor cost (MFC) equal?

• A)It would purchase the second unit for $10, and MFC equals $10.
• B)There is not enough information to know what it would purchase the second unit for, and thus we do not know what MFC equals.
• C)It would purchase the second unit for $10, but there is not enough information to know what MFC equals.
• D)There is not enough information to know what it would purchase the second unit for, but MFC equals $10.

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