Which of the Following Statements Is True

question 137

Multiple Choice

Which of the following statements is true?

• A)VMPL = MP × P.
• B)VMPL = a one-unit change in a factor divided by the change in total revenue.
• C)MC = change in total revenue divided by the one-unit change in a factor.
• D)VMPL = change in the quantity of a factor times the price of the factor.

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Definitions:

Newly Invented

Products, services, or concepts that have been created or developed for the first time, introducing new possibilities or solutions.

Market Research

The act of acquiring, analyzing, and making sense of data pertaining to a market, involving details about possible customers and rivals.

Exploratory Research

A research approach aimed at gaining insights and understanding of a problem or situation that is not well defined.

Preliminary Information

Early data or knowledge gathered at the initial stage of a research or project.