If the Firm's Marginal Physical Product Is 8, and Its

question 138

Multiple Choice

If the firm's marginal physical product is 8, and its handicrafts sell for $70, at a labor cost of $150, the firm is operating

• A)short of an optimal input point.
• B)at the optimum input point.
• C)beyond the optimum input point.
• D)There isn't enough information to determine if the input point is optimal.

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Learning Assessment

The practice of measuring a student's academic progress or learning outcomes using various tools and methods.