If the MRP of land is greater than its price, a firm shouldO use less land.use more land.try to increase the productivity of land.decrease the price it is willing to pay for land.

Input mix refers to the combination of inputs a producer would use in the production process such…

Answered: If the MRP of land is greater than its…

If the MRP of land is greater than its price, a firm should use less land. O use more land. vy to increase the productivity of land. decrease the prce it is wiling to pay for land

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter8: Costs And The Supply Of Goods

Section: Chapter Questions

Problem 1CQ

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If the MRP of land is greater than its price, a firm should
O use less land.
use more land.
try to increase the productivity of land.
decrease the price it is willing to pay for land.

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