Explain what the profit-maximizing combination of resources is for the perfectly competitive firm
What will be an ideal response?
The firm hires each input such that the marginal revenue product of the input equals the price of the input. This can also be expressed as: (MRP of labor/Price of labor) = (MRP of capital/Price of capital) = (MRP of land/Price of land), and so on.
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Refer to Table 3-3. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. At a price of $4, the quantity demanded in the market would be
A) 40 lbs. B) 70 lbs. C) 110 lbs. D) 150 lbs.
The largest marital status category of black single parents in 1960 was "married-spouse absent."
Indicate whether the statement is true or false
18% nominal rate expected inflation rate at 12% what is real interest rate?
What will be an ideal response?
An investment exposed to exchange-rate risk is a(n) ________ international investment.
A. hedged B. arbitrage C. covered D. uncovered