The Amount That an Additional Unit of a Factor Adds

question 163

Multiple Choice

The amount that an additional unit of a factor adds to a firm's total revenue is called:

• A) marginal revenue.
• B) marginal cost.
• C) additional revenue product.
• D) marginal revenue product.

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Definitions:

Senate

A legislative assembly in some countries, often part of a bicameral system, tasked with making and passing laws.

Presidential Election

A formal decision-making process by which a country's citizens choose an individual to hold the office of President.

Defamation

A false communication that harms another's reputation, which can be in written form (libel) or spoken form (slander).

Venue

(1) The place where a hearing takes place. Its geographic location is determined by each state’s statutes and based on where the parties live or where the event occurred or the alleged wrong was committed. (2) A legal doctrine relating to the selection of a court with subject-matter and personal jurisdiction that is the most appropriate geographic location for the resolution of the dispute.