The price paid for any factor of production tends to be equal to:

Related MCQs

• Assertion (A) Many oligopolistic industries exhibit an appreciable degree of Price rigidity or stability Reason (R) Oligopolists face a demand curve that is highly elastic for price increases and less elastic for price reductions
• A perfectly competitive firm should reduce output or shut down in the short run if market price is equal to marginal cost and price is
• If an imperfectly competitive firm is producing a level of output where marginal cost is equal to marginal revenue, marginal revenue is below average variable cost, and price is equal to average total cost, then the firm
• Suppose a competitive firm produces 100 units of X for a price of Rs.10 a unit. The firm is employing labour and capital such that the marginal physical product of labour and capital is 20 and 5 and the prices paid to labour and capital are Rs. 60 and Rs. 40 respectively. How would you characterize the firm
• The demand for a factor of production is:
• If factor prices and factor quantities move in the same direction, we have
• Increase or decrease in the level of production by a monopolistically competitive firm have ------- impact on price and output decisions of other firms
• The dual pricing system of charging high price during peak time and low price during of peak time is called
• The dual pricing system of charging high price during peak time and low price during of peak time is called
• When a purely competitive firm is in long-run equilibrium, price is equal to: