The Marginal Product of an Input in the Production Process

question 463

Multiple Choice

The marginal product of an input in the production process is the increase in

• A)total revenue obtained from an additional unit of that input.
• B)profit obtained from an additional unit of that input.
• C)Total revenue obtained from an additional unit of that input.
• D)quantity of output obtained from an additional unit of that input.

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Definitions:

Mexican Revolution

A major armed struggle from 1910 to 1920 that radically transformed Mexican culture and government, leading to the end of the dictatorship of Porfirio Diaz.

Controlled Panama

Reference to a period or situation in which Panama was under the control or significant influence of another state or entity, such as U.S. control over the Panama Canal Zone in the 20th century.

Panama Canal

A man-made 48-mile waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean, greatly facilitating international maritime trade by providing a significantly shorter passage for ships than going around the southern tip of South America.