A. Slopes downward because an increase in the production of output reduces the price at which the output can be sold in a competitive market, thereby reducing the value of the marginal producing the value of the marginal product as more of the factor is use B. Slopes downward due to the factor’s diminishing marginal product
C. slopes upward due to the factor’s increasing marginal product
D. is perfectly elastic (horizontal) if the factor market is perfectly competitive
A. decrease the prosperity of the firm but increases the prosperity of the factors hired by the firm
B. decreases the prosperity of both the firms and the factors hired by the firm. C. increases the prosperity of both the firm and the factors hired by the firm.
D. increases the prosperity of the firm but decreases the prosperity of the factors hired by the firm.
Economics Mcqs for test Preparation from Basic to Advance. here you will find the the Baisc to Advance and most Important Economics Mcqs for your test preparation. Economics Mcqs for Lecturer & Subject Specialist Exams.