If a Firm Is a Price Taker in Both the Input

question 39

Multiple Choice

If a firm is a price taker in both the input and output markets,its marginal revenue product of labor is given by

• A) the price of its output times labor's marginal physical productivity.
• B) the marginal value product of labor.
• C) the marginal revenue product of capital times the ratio of the wage rate to the rental rate on capital.
• D) all of the above.

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Definitions:

Social Anxiety

A chronic mental health condition in which social interactions cause irrational anxiety, fear, self-consciousness, and embarrassment.

Peer Rejection

An ongoing interaction in which a child is deliberately excluded by peers.

Maladaptation

An adaptation that proves to be more harmful than beneficial, impeding the individual's ability to adjust properly to their environment.

Unpopularity

The state or condition of not being liked, admired, or supported by many people.