Factor of production in perfectly competitive market

Assignment Help Business Economics

Reference no: EM13837187

1. In a perfectly competitive factor market, a firm finds that the marginal factor cost of a factor of production is:

A) greater than its price.

B) less than its price.

C) equal to its price.

D) unrelated to its price.

2. The price paid by a firm for a factor of production in a perfectly competitive market:

A) increases with the quantity of input demanded.

B) decreases with the quantity of input demanded.

C) is equal to the market price of the factor.

D) is less than the market price of the factor.

Reference no: EM13837187

Questions Cloud

Explain the importance of a csr program for an organization : Explain the importance of a CSR program for an organization

Explain briefly what is bad strategy : Explain briefly what is bad strategy

What will be the rate of unemployment next year : The unemployment rate in the U.S is currently 5.6%. If the unemployment rate in March 2016 is 5.0%, what will be the rate of GDP growth according to Okun's law? Suppose GDP growth this year is 2%, what will be the rate of unemployment next year?

Privacy-related matrix : Privacy-Related Matrix-Ethical Dilemma: Locational Privacy and User Privacy Policy

Factor of production in perfectly competitive market : In a perfectly competitive factor market, a firm finds that the marginal factor cost of a factor of production is: The price paid by a firm for a factor of production in a perfectly competitive market:

Unrestrained expansion of a fluid : Which of the following causes a system to be irreversible? All of the other choices Mixing two different substances

Increase in value that future consumers-exhaustible resource : If the interest rate rises, the owners of oil will supply ________ oil today and conserve ________ for the future. An increase in the value that future consumers are expected to place on an exhaustible resource ________ the marginal cost of extractio..

A reasonable number of significant digits : Suggest a reasonable number of significant digits for reporting the following common values and give some indication as to your reasoning: a. Your body weight for a passport b. A car's fuel usage (use liters per 100 km) Strain gauge Eo Excitation vol..

Identify the strategic change proposed : The Project Management Plan should clearly identify the strategic change proposed, expected outcomes, key milestones and deliverables, and prepare the first status report for the project.

User Account

All Pages