Which of the Following Statements Regarding Equilibrium in the Markets

question 109

Multiple Choice

Which of the following statements regarding equilibrium in the markets for capital and for a natural resource used in producing a good is true?

• A)The marginal revenue product of capital will equal the marginal revenue product of the natural resource.
• B)The rental price of capital will equal the price of the natural resource.
• C)The marginal product of capital will equal the rental price of capital and the marginal product of the natural resource will equal the price of the natural resource.
• D)The marginal revenue product of capital will equal the rental price of capital and the marginal revenue product of the natural resource will equal the price of the natural resource.

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Definitions:

Cover

A legal remedy in contract law where the aggrieved party purchases goods or services, similar to those agreed upon, from a different source due to the original party's failure to comply.

Incidental Damages

Expenses or losses that occur as a direct result of a breach of contract, distinct from direct damages.

Consequential Damages

A type of damages that arise not directly from a wrongful act but from the results of the act, which may not have been foreseeable.

Market Price

The current price at which an asset or service can be bought or sold in the open market.