If MRP < P of the factor, firm should hire

Related MCQs

• If MRP > Price of the factor: firm should hire
• If MRP = Price of the factor: firm should _______ at the unit of factor
• Equilibrium in the factor market achieved at the factor price and factor quantity is given by
• The firm is in equilibrium in the factor market when it employs units of labour upto the point where
• 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.
• In order to maximize profits, a firm should produce at the output level for which
• We should employ units of a factor to a point where:
• When a firm’s average revenue is equal to its average cost, it gets ________.
• In a perfectly competitive market a firm in the long run will be in equilibrium when: