Consider a Firm's Demand for a Factor of Production

question 32

Multiple Choice

Consider a firm's demand for a factor of production.A perfectly competitive firm will continue to increase production until the marginal cost of the variable factor is

• A)greater than the marginal revenue of the firm's output.
• B)less than the marginal revenue of the firm's output.
• C)equal to zero.
• D)equal to the marginal revenue product of the factor.
• E)equal to the marginal revenue of the firm's output.

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Race

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