The marginal product is the incremental change in total output that can be obtained from the use of one more unit of an input in the production process, while varying all other inputs

Because of the free rider problem

a. side payments are necessary in order to achieve an efficient outcome b. a needed side payment can shrink until it is not large enough to compensate losers and still leave gainers better off c. efficient outcomes can never be achieved d. the Coase Theory often applies to real-world situations e. externalities are less common than they would otherwise be

Inflation is a rise in the price level. If it is caused primarily by a decrease in aggregate supply, then we refer to it as

a. demand-push inflation b. cost-pull inflation c. demand-pull inflation d. cost-push inflation e. supply-push inflation