Marginal product measures the change in:
A) total cost brought about by changing production by one unit.
B) product price brought about by changing production by one unit.
C) a firm's revenue brought about by changing production by one unit.
D) the firm's additional output brought about by employing one additional unit of input.
Correct Answer:
Verified
Q3: Implicit costs are:
A) labour costs to the
Q5: Implicit costs are best thought of as:
A)
Q6: Economic profit equals total revenue minus:
A) total
Q7: If a firm has total revenue of
Q9: The long run is a period of
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Q11: An economist left her $100 000-a-year teaching
Q13: Which of the following statements is true?
A)
Q32: The short run is a period of
Q39: During the course of a week, McDonald's
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