Question

In: Economics

Which of the following represents a firm’s demand curve for a resource? ​Average fixed cost curve...

Which of the following represents a firm’s demand curve for a resource?

​Average fixed cost curve

​Average total cost curve

​Average variable cost curve

​Marginal revenue product curve

​Marginal resource cost curve

Solutions

Expert Solution

Marginal revenue product curve represents a firm’s demand curve for a resource.

VMPL=MPL*MR

This is known as the demand curve for a resource.

Hence option fourth is the correct answer.

Rahul Sunny answered 1 year ago
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