This Transportation Mode Is Often the Most Expensive on a Per-Pound

question 9

Multiple Choice

This transportation mode is often the most expensive on a per-pound basis.

• A)air
• B)rail
• C)water
• D)highway

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Definitions:

Product Price

The amount of money required to purchase a good or service, often influenced by a variety of factors including production costs, demand, and market competition.

Marginal Revenue Product

The extra income created by the use of an additional unit of a production input.

Marginal Resource Cost

Marginal Resource Cost is the additional cost incurred by obtaining one more unit of a resource, such as labor or raw materials, used in the production of goods and services.

Profits

The financial gain realized when the revenues from business activities exceed the expenses, costs, and taxes needed to sustain the activity.