Marginal product is: A) total product divided by the number of workers employed. B) the increase in total cost attributable to the employment of one more worker. C) the increase in total revenue attributable to the employment of one more worker. D) the increase in total output attributable to the employment of one more worker.
Marginal product is: A) total product divided by the number of workers employed. B) the increase in total cost attributable to the employment of one more worker. C) the increase in total revenue attributable to the employment of one more worker. D) the increase in total output attributable to the employment of one more worker.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 12RQ: What is a production function?
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11) Marginal product is:
A) total product divided by the number of workers employed.
B) the increase in total cost attributable to the employment of one more worker.
C) the increase in total revenue attributable to the employment of one more worker.
D) the increase in total output attributable to the employment of one more worker.
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