Marginal Revenue Product Is

question 117

Multiple Choice

Marginal revenue product is

• A)the additional cost of employing a factor.
• B)the additional revenue generated by employing an additional factor unit.
• C)marginal revenue multiplied by price of the factor unit.
• D)price of the good that is sold multiplied by unit cost.

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Definitions:

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A method of organizing school classes by age and academic ability level, allowing for a more standardized education system.

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The transitional stage of physical and psychological development that generally occurs during the period from puberty to legal adulthood.

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A social group whose members have interests, social positions, and age in common, playing a significant role in the socialization of individuals.