Which of the Following Statements Is True

question 159

Multiple Choice

Which of the following statements is true?

• A) Marginal product is the change in total revenue divided by a one-unit change in a factor.
• B) Marginal revenue is the change in total output divided by the change in output.
• C) Marginal revenue product is marginal product times marginal revenue.
• D) Marginal factor cost is equal to average total cost.

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Definitions:

Memorized Sales Presentation

A pre-scripted pitch that is learned and delivered verbatim by a salesperson, aiming for consistency in conveying the product's or service's benefits.

Non-Technical

Lacking specialized knowledge or expertise in a scientific or technical field, often referring to skills or tasks that do not require such background.

Buyer-Seller Interaction

The communication and exchanges that occur between a buyer and a seller during the process of conducting a transaction.

Formula Sales Presentation

A structured and often scripted sales pitch that is used consistently across many potential customers.