A profit-maximizing firm in a competitive market should stop employing additional units of a factor when:...
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A profit-maximizing firm in a competitive market should stop employing additional units of a factor when: a) marginal product of the factor is maximized b) value of the marginal product of the factor equals the price of the factor c) marginal cost of employing the factor is minimized d) price of the product is greater than the marginal cost of the factor e) marginal revenue of the factor is maximized A profit-maximizing firm in a competitive market should stop employing additional units of a factor when: a) marginal product of the factor is maximized b) value of the marginal product of the factor equals the price of the factor c) marginal cost of employing the factor is minimized d) price of the product is greater than the marginal cost of the factor e) marginal revenue of the factor is maximized
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Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date:
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