The rule for the optimal use of any input says that

A. when MRP is less than price, it pays to expand resource use.
B. when MRP is greater than price, it pays to expand resource use.
C. when MRP equals price, resource use should be cut back.
D. resources should be used only if MRP exceeds price.


Answer: B

Economics

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Which of the following is correct? Price controls

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Economists normally assume people's preferences should be

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