The Change in Total Revenue That Results from a One-Unit

question 182

Multiple Choice

The change in total revenue that results from a one-unit change in the amount of a variable resource used is

• A)average resource cost
• B)marginal resource cost
• C)marginal product
• D)marginal revenue product
• E)average revenue product

---

Definitions:

Multinomial Experiment

An experiment that leads to outcomes classified into more than two categories, which are mutually exclusive and exhaustive.

Binomial Experiment

A statistical experiment that fits the criteria of having a fixed number of trials, two possible outcomes per trial, identical probability of success, and each trial being independent.

Multinomial Experiment

An experiment that leads to outcomes categorized into two or more non-overlapping categories.

Degrees of Freedom

The number of independent values or quantities that can vary in the calculation of a statistic, typically used in the context of statistical tests.