Figure 7-17   Which of the Following Statements Must Be True When a Be

question 91

Multiple Choice

Figure 7-17  

Which of the following statements must be true when a firm makes choices that put it at point A in Figure 7-17?

• A)The firm is minimizing its cost of producing 100 units of output.
• B)The ratio of the marginal physical products of labor and of land equals the ratio of the prices of labor and of land.
• C)The firm first decided how much output to produce and then decided how to produce it.
• D)All of the responses are true.

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Universe

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A concept of happiness derived from fulfilling one's purpose and living in accordance with one's true self, as opposed to pursuing pleasure or avoiding pain.

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