The Marginal Product of a Factor of Production

question 21

Multiple Choice

The marginal product of a factor of production

• A) is equal to the ratio of the amount that factor of production to the amount of output produced.
• B) is equal to the amount of additional output that can be produced with one additional unit of each factor input.
• C) is equal to the amount of additional output that can be produced with one additional unit of that factor input, holding constant the quantities of the other factor inputs.
• D) always exceeds the average product of that factor input, holding constant the quantities of the other factor inputs.
• E) is equal to the additional output that can be produced with an additional change in total factor productivity.

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Definitions:

Myelination

The process of forming a myelin sheath around a nerve to allow electrical impulses to transmit quickly and efficiently along the nerve cells.

Impulsiveness

A trait leading individuals to act on a whim, displaying behavior characterized by little or no forethought, reflection, or consideration of consequences.

Perseveration

The tendency to persevere in, or stick to, one thought or action for a long time.

Habituation

A decrease in response to a stimulus after repeated exposure, indicating a form of learning or adaptation.