Based on Recent Research,which of the Following Is the Most

question 60

Multiple Choice

Based on recent research,which of the following is the most likely cause of the reduction in the rate of technological progress?

• A)measurement error
• B)the increase in the size of the service sector
• C)a reduction in R&D spending
• D)a reduction in the fertility of research
• E) all of the above

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Definitions:

Marginal Expenditure

The incremental cost associated with the purchase of an additional unit of a good or service.

Marginal Product

The increase in output that arises from an additional unit of input.

Marginal Revenue

The additional income generated from the sale of one more unit of a product or service.

Marginal Product

Marginal product is the additional output that is produced by adding one more unit of a specific input, holding all other inputs constant.