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 labor are added.
D) value of additional output when one dollar's worth of additional capital is added.
Correct Answer:
Verified
Q16: The two most important factors of production
Q17: When factor supply is fixed and quantity
Q18: At any particular point in time, the
Q19: If an increase of an equal percentage
Q20: Unlike the real world, the classical model
Q22: What determines the distribution of national income
Q23: In the classical model, what adjusts to
Q24: The real wage is the return to
Q25: The real wage will increase if:
A) the
Q26: If the production function describing an economy
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