The Profit-Maximizing Principle That Marginal Revenue Product Equals the Price

question 91

Multiple Choice

The profit-maximizing principle that marginal revenue product equals the price of the input applies

• A)to any factor of production.
• B)only in the short run.
• C)to capital only.
• D)to labor and capital only.
• E)to labor only.

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Definitions:

Dizygotic Twins

Also known as fraternal twins, are siblings born at the same time but from separate eggs fertilized by different sperm.

Siblings

Brothers or sisters; individuals having one or both parents in common.

Natural Selection

The evolutionary process by which organisms better adapted to their environment tend to survive and produce more offspring.

Common Ancestor

The most recent shared ancestor among two or more species or individuals, indicating a point of divergence in evolutionary history.