A Firm Is Hiring Resources X, Y, and Z in the Profit-Maximizing

question 12

Multiple Choice

A firm is hiring resources X, Y, and Z in the profit-maximizing amounts when

• A) \(\text { MRP }_{x} / P_{x} \text { equals } \mathrm{MR} \mathrm{P}_{y} / P_{y} \text { equals } \mathrm{MRP}_{z} / P_{z} \text { equals } 1 \text {. }\)
• B) the sum of the MRPs of the three resources is at a minimum.
• C) the marginal revenue productivity of all three resources is the same.
• D) the marginal revenue product of the last dollar spent on each of the three resources is the same.

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Definitions:

Unstable

Lacking consistency or predictability in state, structure, or behavior, leading to unpredictability.

Macrosystem

The broadest context in the ecological systems theory, encompassing societal cultures, laws, customs, and resources that influence the individual's development.

Exosystems

In ecological systems theory, the external environments and contexts that indirectly influence an individual's development, such as parents' workplaces.

Microsystem

The immediate environment in which an individual lives or operates, such as the family, school, peer group, or workplace, in ecological systems theory.