A Firm Increases Its Purchases of a Factor of Production

question 12

Multiple Choice

A firm increases its purchases of a factor of production in a perfectly competitive market from 10 units to 11 units.If the market price of the factor is $10 per unit, the marginal factor cost for the tenth unit is:

• A) $10.
• B) $20.
• C) $100.
• D) $110.

---

Definitions:

Study Methodologies

Various strategies, techniques, and procedures employed in research to gather and analyze data.

Personality Disorder Diagnosis

The clinical identification of pervasive and enduring patterns of thought, behavior, and emotion that significantly deviate from cultural norms and impair social, occupational, or personal functioning.

Males

Refers to the male gender or sex, biological category associated with physical and physiological characteristics that define male organisms.

Females

Individuals of the sex that typically possesses two X chromosomes and has the capacity for egg production and, in humans, pregnancy and childbirth.