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Question
A firm wanting to maximize profits should operate in such a way that
A) the MRP of each input is equal to or greater than its MFC.
B) MRP equal MFC in the input market but MC must exceed MR in the output market.
C) marginal revenue must be equal to the marginal revenue product.
D) none of the above
Answer
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Related questions
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Which of the following statements is FALSE?
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Discuss the relationship between world trade and world Gross Domestic Product (GDP) since the early 1950s.
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