Suppose That Real Domestic Output in an Economy Is 20

question 184

Multiple Choice

Suppose that real domestic output in an economy is 20 units, the quantity of inputs is 10, and the price of each input is $4.Refer to the information above, the level of productivity is:

• A)20
• B)10
• C)5
• D)2

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Definitions:

Market Structure

The organizational and other characteristics of a market, determining the nature of competition and pricing strategies within it.

Professional Associations

Organizations comprised of individuals from the same profession or occupation aiming to promote their common interests, standards, and development.

American Medical Association

A professional association and lobbying group for physicians and medical students in the United States.

Distinctive Feature

A characteristic that differentiates an object, concept, or phenomenon from others, making it easily recognizable or unique.