Assume that both input and product markets are competitive. If the product price rises, in the short run firms will increase production by increasing Question 2 options: the stock of fixed capital until marginal revenue equals the product price the stock of fixed capital until the average product of capital equals the price of capital labor input until the marginal revenue product of labor equals the wage rate labor input until the marginal product of labor equals the wage rate labor input until the ratio of product price to the marginal product of labor equals the wage rate