If an Individual Thinks About How He Purchase Goods and Services,he

question 63

Multiple Choice

If an individual thinks about how he purchase goods and services,he will realize that he allocates his expenditures so that the pleasure he gets out of spending one more dollar is the same no matter what he spends that dollar on.For a firm purchasing resources,this is the same as ensuring that:

• A)the ratio between marginal revenue product and the marginal factor cost is equal for all the resources used.
• B)the marginal revenue product of the resources are equal.
• C)the marginal factor cost of the resources are equal.
• D)the ratio between marginal revenue product and the marginal factor cost is greater than one for all resources.
• E)the marginal revenue product is greater than the marginal factor cost of all resources.

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Definitions:

Binet Scales

A set of tests originally developed by Alfred Binet to measure intelligence and cognitive ability in children.

Fixed

Something that is securely attached or set in a specific position that does not move or change.

Psychologists' Definition

Refers to the meanings or interpretations given to concepts, phenomena, or terms by professionals in the field of psychology, emphasizing their understanding based on study and practice.

Intelligence

The capacity to acquire, comprehend, and utilize information, resolve issues, and adjust to novel scenarios.