Assuming That All Other Factors of Production Are Held Constant

question 98

Multiple Choice

Assuming that all other factors of production are held constant, marginal product is the change in _____ output resulting from a one-unit change in _____.

• A) total; a variable input
• B) total; a fixed input
• C) total; total product
• D) per unit; a fixed input

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Definitions:

Cheating

Engaging in dishonest practices in order to gain an unfair advantage, often in an academic or relationship context.

Common Knowledge

Information that is generally known by a significant number of people and isn’t attributed to one source.

Paraphrasing

Expressing the meaning of the words of the speaker or writer using different words, especially to achieve greater clarity.

Bribing

The act of giving or receiving something of value in exchange for some kind of influence or action in return, that is often unethical or illegal.