If a Firm Is Unable to Influence the Price of a Variable

question 104

Multiple Choice

If a firm is unable to influence the price of a variable productive resource by buying more or less of it,then the marginal cost of the resource is equal to the:

• A) price of the resource.
• B) marginal product of the resource.
• C) price of a unit of the firm's output.
• D) minimum average cost of producing the product.

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