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12. Marginal revenue product denotes (M 4- S17) V a) The extra revenue resulting from a unit increase in the input. b) The extra revenue resulting from a unit increase in output. c) The extra revenue that results from economizing on excess inputs. d) The extra output that results from a unit increase in the input. e) The extra revenue that results from an increase in technical efficiency.

12. Marginal revenue product denotes (M 4- S17) V a) The extra revenue resulting from a unit increase in the input. b) The extra revenue resulting from a unit increase in output. c) The extra revenue that results from economizing on excess inputs. d) The extra output that results from a unit increase in the input. e) The extra revenue that results from an increase in technical efficiency.

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 6PA
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12. Marginal revenue product denotes (M 4- S17) V a) The extra revenue resulting from a unit increase in the input. b) The extra revenue resulting from a unit increase in output. c) The extra revenue that results from economizing on excess inputs. d) The extra output that results from a unit increase in the input. e) The extra revenue that results from an increase in technical efficiency.
Transcribed Image Text:12. Marginal revenue product denotes (M 4- S17) V a) The extra revenue resulting from a unit increase in the input. b) The extra revenue resulting from a unit increase in output. c) The extra revenue that results from economizing on excess inputs. d) The extra output that results from a unit increase in the input. e) The extra revenue that results from an increase in technical efficiency.
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