The MP of an input is not:
A) the change in output as the input is changed by a small amount.
B) the input's productivity in the most recently constructed plant.
C) the slope of the total product function.
D) the rate at which output increases as more of the input is used.
Correct Answer:
Verified
Q70: Which assumption guarantees that the marginal product
Q71: Economists might consider the cash for clunkers
Q72: The free- disposal assumption implies that:
A)the MP
Q73: If STC = 3q2 + 7q +
Q74: If a firm has STC = 7q3
Q76: A variable input in a fixed- proportions
Q77: The short run is the amount of
Q78: A technically efficient technology is one that:
A)maximizes
Q79: If STC = 3q2 + 7q, then:
A)VC
Q80: Economic cost differs from accounting cost in
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