Choose the Answer That Best Completes Each Sentence

question 56

Short Answer

Choose the answer that best completes each sentence.
(a) The extra revenue that a firm gains from employing one more unit of a variable factor is known as the:
(b) The cost of producing one additional unit of output is known as:
(c) The extra output that a firm gains from employing one more unit of a variable factor is known as the:
(i)marginal cost.
(ii)marginal physical product.
(iii)marginal revenue product.

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Definitions:

Cognitive-behavior Therapy

A type of psychotherapeutic treatment that helps patients understand the thoughts and feelings that influence behaviors.

Self-efficacy

An individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments.

Insight

The ability to understand the inner nature of things or to gain a clear or deep perception of a complicated problem or situation.

Self-awareness

The conscious recognition and understanding of one's own character, feelings, motives, and desires.