Marginal Product Is Defined as

question 29

Multiple Choice

Marginal product is defined as

• A)the increase in revenue that occurs when an additional unit of a resource is added
• B)the increase in output that occurs when all resources are increased by the same proportion
• C)the increase in output that occurs when an additional unit of a resource is added, holding all other resources constant
• D)the amount of additional resources needed to increase output by one unit when all resources are increased by the same amount
• E)the amount of additional money needed to increase output by one unit when all resources are held constant

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Definitions:

Archean

A geological eon extending from about 4.0 to 2.5 billion years ago, characterized by the formation of the Earth's first stable continental crust.

Hadean

The earliest eon in Earth's history, marked by extreme heat and uninhabitable conditions, spanning from about 4.6 to 4 billion years ago.

Prokaryotes

Microorganisms characterized by the absence of a nucleus, including bacteria and archaea.

Representatives

Individuals or entities that stand in for or act on behalf of others in a particular context or scenario.