The marginal product of an input in the production process is the increase in
A: total revenue obtained from an additional unit of that input.
B: quantity of output obtained from an additional unit of that input.
C: profit obtained from an additional unit of that input.
D: total revenue obtained from an additional unit of that input.
A: total revenue obtained from an additional unit of that input.
B: quantity of output obtained from an additional unit of that input.
C: profit obtained from an additional unit of that input.
D: total revenue obtained from an additional unit of that input.
举一反三
- The production function is the A: increase in the amount of output from an additional unit of labor. B: marginal product of an input times the price of output. C: relationship between the quantity of inputs and output. D: shift in labor demand caused by a change in the price of output.
- Marginal product of labor is the increase in the amount of output from an additional unit of labor. A: right. B: wrong.
- The minimum supply price, the lowest price at which a producer is willing to supply an additional unit of a good, is: A: less than the marginal revenue for the additional unit. B: the price at which producer surplus is maximized. C: the marginal cost of producing the additional unit.
- The increase in total revenue due to increasing the amount of labor employed by one unit is called the( ) A: Average Revenue Product. B: Marginal Product. C: Total Revenue Product. D: Marginal Revenue Product.
- Besides implicit user input, there’s another type of user input which is called explicit user input.<br/>( )