The Idea That When the Amount of Physical Capital Is

question 105

Multiple Choice

The idea that when the amount of physical capital is fixed, an additional worker adds less to output than the previous worker is known as the:

• A) marginal revenue product.
• B) marginal physical product.
• C) law of diminishing returns.
• D) production function.

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Definitions:

Time To Market

The speed with which a company launches a product.

Product Development

The process of bringing a new product or service to market, from idea conception and design through to production and launch.

Product Development

The complete process of bringing a new product to market, from initial concept through to design, creation, and introduction to consumers.

Federal Trade Commission

A U.S. government agency aimed at protecting consumers and promoting competition, by preventing anticompetitive, deceptive, and unfair business practices.