________ Is One of the Most Important Mechanisms for Promoting

question 52

Multiple Choice

________ is one of the most important mechanisms for promoting equality of opportunity.

• A) Public education
• B) Affirmative action
• C) Transportation
• D) Commerce

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Definitions:

Marginal Product

The increase in output that arises from an additional unit of input, holding all other inputs constant.

Total Cost Curve

A graphic representation showing how total cost changes with changes in the level of output or production.

Output

The amount of goods or services produced by a company, industry, or economy in a given period.

Isoquant

A curve representing all the combinations of inputs that result in the production of a certain level of output, used in the study of production theory.