The Least-Cost Rule Requires That, for Every Factor, the Ratio

question 62

Multiple Choice

The least-cost rule requires that, for every factor, the ratio of the

• A)marginal physical product to factor price must be equal.
• B)marginal revenue product to factor price must be equal.
• C)marginal revenue product to output must be equal.
• D)marginal cost to factor price must be equal.

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Definitions:

Reproduces

The biological process by which new individual organisms are created from their parents.

Red Blood Cells

are cells in the bloodstream that transport oxygen from the lungs to body tissues and carbon dioxide back to the lungs.

Liver

A vital organ present in vertebrates and some other animals, performing a wide range of functions including detoxification, protein synthesis, and the production of biochemicals necessary for digestion.

Excavates

A diverse group of single-celled organisms, including both free-living species and parasites, characterized by their unique cell structure and mode of mobility.