The Two Characteristics of the Appropriateness of Evidence Are

question 3

Multiple Choice

The two characteristics of the appropriateness of evidence are

• A) relevance and timeliness.
• B) relevance and accuracy.
• C) relevance and reliability.
• D) reliability and accuracy.

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Definitions:

Marginal Productivity Theory

An economic theory suggesting that payment to factors of production equates to their marginal contribution to the output.

Value Added

The increase in the value of a product or service as a result of a particular process, typically measured as the difference between the cost of inputs and the price it's sold for.

Profit-Maximizing

A strategy or point whereby a firm selects the output level at which its profits are at their highest.

Marginal Product

The additional output resulting from the use of one more unit of a production factor.