The marginal revenue product of a factor shows how much an additional unit of a factor adds todollar revenue.unit costs.O profitability.the level of production.A profit-maximizing firm operating in a perfectly competitive market will add new units of a factor of production until0000marginal revenue product equals factor price.marginal product equals factor price.marginal revenue product equals marginal revenue.marginal revenue product equals marginal product.

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The marginal revenue product of a factor shows how much an additional unit of a factor adds to dollar revenue. unit costs. O profitability. O the level of production.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The marginal revenue product of a factor shows how much an additional unit of a factor adds to
dollar revenue.
unit costs.
O profitability.
the level of production.
A profit-maximizing firm operating in a perfectly competitive market will add new units of a factor of production until
0000
marginal revenue product equals factor price.
marginal product equals factor price.
marginal revenue product equals marginal revenue.
marginal revenue product equals marginal product.

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QUESTION 5 If we know a firm's demand for an input then we can derive the firm's a. mission, vision, and values b. output supply c. opportunity cost d. stock price