In ________, Changes in Technology Affect the Marginal Revenue Product

question 13

Multiple Choice

In ________, changes in technology affect the marginal revenue product of a unit of labor input. In ________, changes in technology affect the marginal cost of a unit of output.

• A) the product market; the labor market
• B) output markets; input markets
• C) the labor market; the product market
• D) all markets; all markets

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Definitions:

Fluid Intelligence

The ability to reason and think flexibly, solving problems in novel situations, without drawing on pre-existing knowledge.

Word Game

A puzzle or game designed to test knowledge of words, their meanings, and usage, often used for entertainment or educational purposes.

Triarchic Theory of Intelligence

A theory proposed by Robert Sternberg that posits intelligence consists of three components: analytical, creative, and practical intelligence.

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