The Marginal Product of a Variable Input Is Calculated As

question 79

Multiple Choice

The marginal product of a variable input is calculated as:

• A)the change in total product divided by the change in output.
• B)total product divided by the change in the variable input.
• C)the change in total product divided by the change in the variable input.
• D)total product divided by the total quantity of the variable input.

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Definitions:

Genes

The basic physical and functional units of heredity, made up of DNA, that carry the instructions for the development, functioning, growth, and reproduction of all known organisms.

Associate Status

A rank or position that signifies a partial or junior level of membership in an organization or profession.

Commercial Products

Goods and services that are produced for sale on the open market.

Rites of Passage

Ceremonies or rituals that mark important transitional periods in a person's life, signifying a change in social status.