Based on the Textbook, Which of the Following Is an Argument

question 10

Multiple Choice

Based on the textbook, which of the following is an argument in favor of federalism?

• A) Increases choices
• B) Encourages innovation
• C) Increases competition
• D) All of the above

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Definitions:

Marginal Product

Marginal product refers to the additional output produced as a result of adding one more unit of a specific input, while holding other inputs constant.

Resource

An economic or productive factor required to accomplish an activity, or as a means to undertake an enterprise and achieve desired outcome.

Marginal Revenue Product

The additional revenue generated by employing one more unit of a resource, such as labor.

Productivity

The measure of efficiency in converting inputs into useful outputs in production.