A. marginal revenue, marginal cost
B. long run marginal revenue, long run marginal cost
C. labor output ratio, capital output ratio
D. marginal cost of labor, marginal revenue product
Related Mcqs:
- In a competitive labour market firms will hire labour up to the point where the marginal revenue product of labour equals ?
A. total labour cost
B. the marginal product
C. the price of the product
D. the wage rate - A competitive profit-maximizing firm should hire workers up to the point where ?
A. the wage, the rental price of capital and the rental price of land are all equal
B. the marginal product of labor equals zero and the production function is maximized
C. the value of the marginal product of labor equals the wage
D. the marginal product of labor equals the wage - For the United States suppose the annual interest rate on government securities equals 12 percent while the annual inflation rate equals 8 percent For Japan the annual interest rate on government securities equals 10 percent while the annual inflation rate equals 5 percent the above variables would cause investment funds to flow from ?
A. The United States to Japan causing the dollar to depreciate
B. The United States to Japan causing the dollar to appreciate
C. The Japan to United States, causing the dollar to depreciate
D. The Japan to United States, causing the dollar to appreciate - For a competitive profit-maximizing firm, the value-of-the-marginal-product curve for capital is the firm’s ?
A. supply curve of capital
B. demand curve for capital
C. production function
D. marginal cost curve - For the United States suppose the annual interest rate on government securities equals 8 percent while the annual inflation rate equals 4 percent, For Switzerland the annual interest rate on government securities equal 10 percent while the annual inflation rate equals 7 percent the above variables would cause investment funds to flow from ?
A. the United States to Switzerland causing the dollar to depreciate
B. the United States to Switzerland causing the dollar to appreciate
C. Switzerland to the United States causing the franc to depreciate
D. Switzerland to the United States causing the franc to appreciate - A profit maximizing firm is perfect competition produces where ?
A. Total revenue is maximized
B. Marginal revenue equals zero
C. Marginal revenue equals marginal cost
D. Marginal revenue equals average cost - The traditional profit-maximizing theory of the firm has been criticized by some economists because ?
A. firms do not know how to maximize profits.
B. firms have other aims
C. it does not explain monopolistic competition
D. Both the first and second option - If a firm were to bid to do a turnkey operation where they would choose a building site designing a cement factory to build the plant hire construction crews assemble materials and equipment to run the new factory and turn over the finished factory ready to operate to the owners the firm would be using which of the following ?
A. Core Process products selling
B. Design Products selling
C. Reciprocal spelling
D. Systems selling - A firm in perfectly competitive industry is producing 50 units, its profit-maximising quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is ?
A. £35
B. £15
C. £30
D. £60 - In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals?
A. The average cost of labour
B. The marginal product
C. The marginal revenue
D. The total cost of labour
