The marginal product is the slope of the:
a. marginal cost curve.
b. total cost curve.
c. total product curve.
d. long-run average total cost curve
Ans: c. total product curve.
You might also like to view...
Which of the following is correct?
a. Economic development is more quantitative than economic growth. b. A country cannot achieve economic growth with a limited base of natural resources. c. Infrastructure is capital provided by the private sector. d. All of the above are true. e. All of the above are false.
If Brazil has a comparative advantage relative to Cuba in the production of sugar cane, then
A) the average cost of production for sugar cane is lower in Brazil than in Cuba. B) the implicit costs of production for sugar cane are lower in Brazil than in Cuba. C) the opportunity cost of production for sugar cane is lower in Brazil than in Cuba. D) the explicit cost of production for sugar cane is lower in Brazil than in Cuba.