The Marginal Product of a Worker Is Equivalent To

question 3

Multiple Choice

The marginal product of a worker is equivalent to:

• A)the total amount of output produced by all workers combined
• B)the amount of output produced by the average worker
• C)the amount of output an individual worker contributes to the total output of a firm
• D)none of the above

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Definitions:

Account

An arrangement by which an individual or entity keeps track of their financial transactions and positions with another entity.

Accounting Records

Documents that businesses use to track their financial transactions and maintain financial accountability.

Journal

A record where all financial transactions are initially noted before they are posted to individual accounts in the ledger.

Revenues

The total amount of money received by a company for goods sold or services provided during a specific period.