Which Product Is Most Likely to Be Promoted Through Advertisements

question 95

Multiple Choice

Which product is most likely to be promoted through advertisements rather than through personal selling?

• A) oil rigs
• B) laptops
• C) raw cotton
• D) mineral ores

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Definitions:

Profit

Total revenue minus total cost.

Diminishing Marginal Product

The principle that as more of a variable input is added to a fixed input, the additional output produced from each new unit of input will eventually decrease.

Production Function

A production function describes the relationship between inputs used in production and the output generated from those inputs.

Marginal Product

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