The amount that an additional unit of a factor adds to a firm's total revenue is called:
A) marginal revenue.
B) marginal cost.
C) additional revenue product.
D) marginal revenue product.
Correct Answer:
Verified
Q6: If the _ of labor is increased,
Q7: Marginal revenue product is calculated as:
A) MP
Q8: A firm's demand curve for labor is:
A)
Q9: In terms of contribution to total income,
Q10: If marginal product is _ , marginal
Q12: The amount by which an additional unit
Q13: In perfect competition where P is the
Q14: The assumption of perfect competition is sometimes
Q15: Which of the following is correct?
A) MRP
Q16: Marginal product times marginal revenue is:
A) marginal
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