The marginal product of capital is:
A) output divided by capital input.
B) additional output produced when one additional unit of capital is added.
C) additional output produced when one additional unit of capital and one additional unit of labour are added.
D) the value of additional output when one dollar's worth of additional capital is added.
Correct Answer:
Verified
Q4: The neoclassical theory of distribution:
A) was developed
Q10: A firm's economic profit is:
A)the price of
Q12: If bread is produced using a constant
Q13: An economy's factors of production and its
Q14: A production function is a mathematical relationship
Q16: The two most important factors of production
Q17: Unlike the real world, the classical model
Q18: The marginal product of labour is:
A)output divided
Q19: The assumption that the factor's supply is
Q20: A competitive, profit-maximizing firm hires labour until
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents