Which of the following would have the least amount of influence on a manager's choice of which...
Question:
Which of the following would have the least amount of influence on a manager's choice of which inputs to employ in a production process?
A) The price of a competitor's output.
B) The technology of the production process.
C) The marginal productivity of the inputs that can be used in the production process.
D) The prices of the inputs that can be used in the production process.
Price
In an economy, the equilibrium point is determined when the demand for the commodity is equal to the supply of the commodity. At the equilibrium point, there is the optimal distribution of resources in the economy.
Answer and Explanation: 1
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View this answerThe correct answer is a - the price of a competitor's output
a. The option is true as a manager would not be much concerned about the price of the...
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