Marginal factor cost is
A) the change in the value of output from using an additional unit of the factor.
B) the cost of an additional unit of output.
C) the total value of factor cost divided by the one cost that is being held constant.
D) the cost of using an additional unit of an input.
Answer: D
You might also like to view...
Firms that extend credit to borrowers using funds from raised from savers are called:
A. financial intermediaries. B. stock brokers. C. bond dealers. D. central banks.
Referring to Figure 19.2, the effect of a decrease in U.S. prices is represented by a movement from point
A) a to d. B) d to a. C) b to c. D) a to b.
Which of the following will always be true when an economy is in long-run equilibrium?
What will be an ideal response?
Which of the following items would be in GDP?
A. the value of pollution emitted from a factory B. the building that a company has used for its headquarters for a decade C. household purchasing tax advice from an accountant D. a single person cleaning their own clothes