Graphically, We Can Think of the Marginal Product of a Factor

question 85

Multiple Choice

Graphically, we can think of the marginal product of a factor as the:

• A)slope of the total production curve, when output is plotted against the quantity of the input that is used.
• B)slope of the total cost curve, when output is plotted against the costs of the quantity of the inputs used.
• C)additional cost associated with producing one more unit of output.
• D)additional inputs associated with producing one more unit of output.

---

Definitions:

Initial Cost

The original cost of acquiring an asset before any depreciation, amortization, or similar adjustment.

Cash Inflows

The total amount of money received by a company or individual during a set period.

Payback Period

The duration of time it takes to recover the cost of an investment, calculated as the point where net cash flow equals the initial investment.

Initial Cost

The initial expense associated with the purchase or investment in an asset before operational costs are considered.