Marginal product is
A) the increase in output that results from a one-unit increase in the quantity of labor employed with all other inputs remaining the same.
B) total amount of output produced.
C) total amount of output produced divided by the quantity of labor employed.
D) total amount of output produced divided by price of the output.
A
You might also like to view...
This type of firm would likely operate as a monopoly
A) one of many U.S. wheat farmers. B) one of the few U.S. auto makers. C) AT&T long distance phone service. D) the local water company.
The main reason why one nation trades with another is to
A. save its natural resources from rapid depletion. B. exploit the advantages of specialization. C. eliminate the danger of retaliation from other nations. D. improve political alliances.