To Hire an Input, a Business Owner Must Pay a Price

question 40

Multiple Choice

To hire an input, a business owner must pay a price that

• A) covers the transportation cost of the input owner.
• B) reflects the business owner's lowest-cost alternative activity.
• C) matches the best opportunity cost of the input owner.
• D) gives the input owner enough money to buy the assets of the business.
• E) reflects the business owner's best alternative activity.

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Definitions:

Rational Function

A function that can be expressed as the quotient of two polynomials.

Domain

The set of all possible input values for which a function is defined.

Rational Function

A function represented by the quotient of two polynomials, where the denominator is not zero.

Rational Expression

A ratio of two polynomial expressions, with a non-zero denominator.