If the MRP of land is greater than its price, a firm shouldO use less land.use more land.try to increase the productivity of land.decrease the price it is willing to pay for land.

Input mix refers to the combination of inputs a producer would use in the production process such…

Answered: If the MRP of land is greater than its…

If the MRP of land is greater than its price, a firm should use less land. O use more land. vy to increase the productivity of land. decrease the prce it is wiling to pay for land

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Innovations in technology that cause an increase in the marginal product of a resource will: O increase the marginal revenue product O increase the marginal resource cost O decrease the marginal revenue product decrease the demand for the resource
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