A Fellow Student with This Same Problem Adds One Tablespoon

question 44

Essay

A fellow student with this same problem adds one tablespoon cornstarch to the cold pudding/whipped cream mixture. What would this do? What was wrong with this approach? What must happen to the cornstarch for it to thicken? What "side effects" would you see from adding the raw cornstarch?

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Definitions:

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production, holding all other inputs constant.

Variable Input

An input in the production process that changes in quantity with the level of output, such as raw materials or labor hours.

Wage

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee.

Marginal Product

The additional output that is produced by adding one more unit of a specific input, keeping all other inputs constant.