Whenever the Ratio of Marginal Products to Input Prices Differs

question 5

Multiple Choice

Whenever the ratio of marginal products to input prices differs across inputs,

• A)The marginal products of inputs will adjust as input combinations change to correct for the inefficiency
• B)No change will necessarily follow because the process could still be at peak efficiency
• C)A firm's costs could be reduced by shifting input usage toward the input with the lower marginal product to price ratio
• D)Cost could be reduced by shifting input usage toward the input with the lower marginal product to price ratio

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Definitions:

Ideal Self

A person's conception of how they would like to be, representing aspirations and goals for personal achievement and improvement.

Discrepancy

A difference or inconsistency between two or more facts, amounts, or opinions.

Differentiated Self

A sense of self as including many fluctuating attributes.

Possible Self

The aspect of self-concept that involves individuals’ ideas of what they might become, what they would like to become, and what they fear becoming.