The Marginal Physical Product of an Input Is the

question 42

Multiple Choice

The marginal physical product of an input is the

• A)addition to output from using one more unit of an input.
• B)extra amount of an input needed to produce one additional unit of output.
• C)change in average physical product, given a change in the quantity of an input.
• D)slope of the production indifference curve for an output made using the input.

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Definitions:

Cash Receipts Journal

An accounting journal used to record all cash inflows or money received by the business.

All-purpose Journal

A general ledger used in accounting to record financial transactions that do not fit specifically into other specialized journals.

Purchases Journal

A record where a business notes all purchases of goods intended for resale or use in production, particularly on credit.

Revenue Journal

An accounting ledger detailing all income transactions for a business, used to track and manage sources of revenue.