We should employ units of a factor to a point where:

Related MCQs

• The firm is in equilibrium in the factor market when it employs units of labour upto the point where
• Equilibrium in the factor market achieved at the factor price and factor quantity is given by
• If MRP = Price of the factor: firm should _______ at the unit of factor
• Factor prices are determined in the factor market under the forces of
• The producer’s demand for a factor of production is governed by the ___ of that factor.
• If MRP > Price of the factor: firm should hire
• If MRP < P of the factor, firm should hire
• The return to a factor of production which is fixed in supply in the short period is called
• Every factor of production gets reward equal to its:
• The market, where the services of factor of production are bought and sold is, is