The Amount by Which the Use of an Additional Unit

question 230

Multiple Choice

The amount by which the use of an additional unit of a factor of production increases a firm's total revenue during a period is called the:

• A)value of the marginal product.
• B)average product.
• C)marginal factor cost.
• D)marginal physical product.

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Definitions:

Colonize

The act of establishing control over a foreign territory and its people for the purpose of economic exploitation, cultural assimilation, or territorial expansion.

Americas

A geographic term referring to the combined landmass of North America, South America, and the associated islands, often used in the context of historical and cultural studies.

Racial Worldview

An outlook or perspective shaped significantly by one's beliefs and attitudes towards race and racial groups.

Catalyst

An agent or event that precipitates or significantly speeds up a change or action.