Marginal product is the change in output divided by the change in the amount of an input used

a. True
b. False

A

Economics

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Even when allowed to collude, firms in an oligopoly may choose to cheat on their agreements with the rest of the cartel. Why?

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The firm should hire more labor as long as doing so adds more to ________ than it does to ________

a. costs; revenues b. revenues; resources c. costs; resources d. revenues; costs

Economics