Choose the answer that best completes each sentence.
(a) The extra revenue that a firm gains from employing one more unit of a variable factor is known as the:
(b) The cost of producing one additional unit of output is known as:
(c) The extra output that a firm gains from employing one more unit of a variable factor is known as the:
(i)marginal cost.
(ii)marginal physical product.
(iii)marginal revenue product.

Question

Choose the answer that best completes each sentence.
(a) The extra revenue that a firm gains from employing one more unit of a variable factor is known as the:
(b) The cost of producing one additional unit of output is known as:
(c) The extra output that a firm gains from employing one more unit of a variable factor is known as the:
(i)marginal cost.
(ii)marginal  physical product.
(iii)marginal revenue product.

Quizplus · Accepted Answer

The Answer of Choose the answer that best completes each sentence.
(a) The extra revenue that a firm gains from employing one more unit of a variable factor is known as the:
(b) The cost of producing one additional unit of output is known as:
(c) The extra output that a firm gains from employing one more unit of a variable factor is known as the:
(i)marginal cost.
(ii)marginal  physical product.
(iii)marginal revenue product.

Choose the Answer That Best Completes Each Sentence