The Increase in Output That Is Generated by an Additional

question 73

Multiple Choice

The increase in output that is generated by an additional unit of input is call the:

• A)marginal product.
• B)input-output relationship.
• C)production function.
• D)resource product.

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Definitions:

Accounts Payable

Amounts a company owes to suppliers for goods or services acquired on credit.

Cost of Goods Sold

Directly incurred costs for the production of goods a company sells, encompassing both materials and workforce expenses.

Cash Cycle

is the period between the outflow of cash for raw materials and the inflow of cash from selling goods or services, indicating the efficiency of a company's operations.

Receivables Period

The common interval for an enterprise to secure payments owed by its patrons.