While Many Consumers Report That They Like Ecologically Friendly Products,only

question 21

True/False

While many consumers report that they like ecologically friendly products,only about a third actually buy such products,and most consumers don't know which lifestyle changes are the best means to reduce global warming.

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Definitions:

Marginal Revenue Product

Marginal Revenue Product measures the increase in revenue realized from employing one additional unit of input, such as labor or capital, holding all other inputs constant.

Total Revenue Product

The total revenue product is the total revenue generated by a factor of production, such as labor or capital, based on its marginal product and the price of the goods or services produced.

MRP

Marginal Revenue Product, the additional revenue generated from employing one more unit of a resource.

Capital

Resources made and used to produce goods and services, including tools, equipment, machinery, and buildings.