Marginal Product Is Defined as

question 21

Multiple Choice

Marginal product is defined as

• A)the increase in revenue that occurs when an additional unit of a resource is added
• B)the increase in output that occurs when all resources are increased by the same proportion
• C)the increase in output that occurs when an additional unit of a resource is added, holding all other
• Resources constant
• D)the amount of additional resources needed to increase output by one unit when all resources are
• Increased by the same amount
• E)the amount of additional money needed to increase output by one unit when all resources are held constant

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Definitions:

Internal Business Processes

Activities or operations within a company that contribute to the business's goals, often focusing on efficiency and productivity.

Strategy

A high-level plan or set of actions designed to achieve long-term or overall aims and objectives, often within a competitive environment or to solve a problem.

Support Activities

Functions or operations that help make a business's primary activities more efficient, such as procurement, technology development, human resource management, and firm infrastructure.

Create Value

The process of increasing the worth of products, services or businesses through improvement or innovation.