If an Individual Thinks About How He Purchase Goods and Services,he

question 63

Multiple Choice

If an individual thinks about how he purchase goods and services,he will realize that he allocates his expenditures so that the pleasure he gets out of spending one more dollar is the same no matter what he spends that dollar on.For a firm purchasing resources,this is the same as ensuring that:

• A)the ratio between marginal revenue product and the marginal factor cost is equal for all the resources used.
• B)the marginal revenue product of the resources are equal.
• C)the marginal factor cost of the resources are equal.
• D)the ratio between marginal revenue product and the marginal factor cost is greater than one for all resources.
• E)the marginal revenue product is greater than the marginal factor cost of all resources.

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Definitions:

Excellence

A state of exceptional merit or goodness; a performance ideal.

Crisis of Control

A situation in which the usual mechanisms of governance or oversight fail to maintain stability, often leading to chaos or conflict.

Organization Life

encompasses the various stages through which an organization passes over time, including inception, growth, maturity, and decline, each presenting unique challenges and opportunities.

Rule Violation

Describes an act that goes against the guidelines, laws, or policies set forth by an authority.