The Following Table Shows Total Output Produced by Different Units

question 99

Multiple Choice

The following table shows total output produced by different units of capital.Table 14.3
The marginal revenue product of a resource is the product of the marginal product of the resource and the marginal revenue.
-The producer can raise the level of profit by hiring more units of a resource if:

• A)the marginal revenue product of the resource is equal to the marginal factor cost.
• B)the marginal factor cost becomes negative.
• C)the marginal revenue product of the resource is greater than the marginal factor cost.
• D)the marginal revenue product falls to zero.
• E)the marginal revenue product of the resource is less than the marginal factor cost.

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Definitions:

1948 Convention

Likely refers to the Universal Declaration of Human Rights adopted by the United Nations General Assembly in 1948, setting a standard for human rights.

Civil Rights

The rights of citizens to political and social freedom and equality, often protected by law and central to debates over justice, democracy, and societal progress.

President Truman

Harry S. Truman, the 33rd President of the United States, who served from 1945 to 1953 and is known for ending World War II by using atomic bombs on Japan.

Totalitarianism

The term that describes aggressive, ideologically driven states that seek to subdue all of civil society to their control, thus leaving no room for individual rights or alternative values.