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AP Microeconomics
Unit 5 – Factor Markets
Topic 5.1
When does a firm maximize its profit in the factor market?
When marginal revenue product (MRP) equals marginal resource cost (MRC)
When total revenue exceeds total cost
When marginal revenue product (MRP) is greater than marginal resource cost (MRC)
When marginal revenue product (MRP) is less than marginal resource cost (MRC)
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AP Microeconomics - 5.1 Introduction to Factor Markets
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Factor Market
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About Us
About Fiveable
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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