The change in total cost when one more unit of a factor of production is added is:
A) marginal revenue product.
B) marginal product.
C) marginal cost.
D) marginal factor cost.
Correct Answer:
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Q21: Marginal factor cost is the:
A) amount a
Q22: In a perfectly competitive factor market, a
Q23: Use the following to answer question(s):
Q24: A firm increases its purchases of a
Q25: Use the following to answer question(s):
Q27: If a firm is using a factor
Q28: In a perfectly competitive labor market:
A) the
Q29: Use the following to answer question(s):
Q30: A firm increases its purchases of a
Q31: Use the following to answer question(s):
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