The change in the total output of a firm associated with using one more unit of an input is referred to as the:
A) marginal product of the input.
B) total product.
C) average product of the input.
D) variable product of the input.
A
Economics
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Explain why only final goods are included in GDP
What will be an ideal response?
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Suppose that the discriminating monopolist faces antidumping actions in its foreign market. Why might it volunteer to raise its price by $10 in the foreign market in order to settle the action without imposition of an antidumping duty?
a. It might avoid an even higher antidumping duty. b. It wants to avoid the trouble of defending itself in an antidumping action. c. It should charge a higher price to maximize its profits in the foreign market. d. Raising its price will be good public relations.
Economics