The Base Level of a Stream Is Typically Sea Level

question 30

True/False

The base level of a stream is typically sea level.

---

Definitions:

Marginal Physical Product

The additional output resulting from using one more unit of a physical input, holding other inputs constant, in the production process.

Total Revenue

The price of a good or service multiplied by the number of units sold.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource, factor of production, or input.

Perfect Competition

An industry with so many firms that no one firm has any influence over price, and firms produce an identical product.