The extra amount of output a business can generate by adding one more hour of labor is called
A) Marginal revenue.
B) Labor input.
C) Marginal cost.
D) Marginal product.
Correct Answer:
Verified
Q23: Variable costs are also known as
A) long-term
Q24: The goods or services purchased by a
Q25: The added expense of producing one more
Q26: Economists think of a business as a
Q27: Many times,technology is _ in the equipment
Q29: Variable costs are relevant for
A) long-term strategic
Q30: The total cost of production is determined
Q31: An example of variable costs is
A) rent
Q32: In a simple grass-mowing business,the lawn mower
Q33: _ shows the potential cost for each
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