If a Profit-Maximizing Firm Is a Price Taker in Both

question 27

Multiple Choice

If a profit-maximizing firm is a price taker in both the input and output markets,its marginal revenue product of labor is given by

• A)the price of its output times labor's marginal physical productivity.
• B)the marginal value product of labor.
• C)the marginal revenue product of capital times the ratio of the wage rate to the rental rate on capital.
• D)all of the above.

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