The change in the total revenue of a firm that results from employing one additional unit of a factor of production is defined as the
a. total revenue product of the resource.
b. marginal product of the resource.
c. marginal revenue product of the resource.
d. average revenue product of the resource.
C
Economics
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In the Malthusian model, improvements in health care lead to
A) higher population and higher per-capita production. B) higher population and lower per-capita production. C) lower population and higher per-capita production. D) lower population and lower per-capita production.
Economics
Which of the following is NOT an example of a good or service provided by a market?
A. Metered street parking in Sacramento, California B. Pizza in Toledo, Ohio C. The air we breathe D. Illegal sports betting
Economics