Which of the Following Is an Example of an Industrial

question 83

Multiple Choice

Which of the following is an example of an industrial union?

• A) The American Federation of State, County, and Municipal Employees
• B) The American Federation of Television and Radio Artists
• C) International Association of Bridge, Structural, Ornamental, and Reinforcing Iron Workers
• D) National Labor Relations

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Definitions:

Value of the Marginal Product

The extra income produced from the use of an additional unit of input, like capital or labor.

Marginal Product (MP)

The extra output generated from increasing the quantity of a particular input by one, while keeping other inputs unchanged.

Price (P)

The cost necessary to acquire a good or service.

Value of the Marginal Product

The additional revenue generated by employing one more unit of a factor, such as labor or capital, in the production process.