The increase in output that results when one more unit of a variable input is hired is called
A) total physical product.
B) marginal physical product.
C) average physical product.
D) marginal revenue.
Answer: B
Economics
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The profit-maximizing output for the perfectly competitive firm occurs at the point at which
A) TR - MR is at a maximum. B) TR - TC is at a minimum. C) MR = MC. D) TR - ATC is at a maximum.
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Open-market operations affect the supply of reserves.
Answer the following statement true (T) or false (F)
Economics