Which of the Following Statements Is True

question 159

Multiple Choice

Which of the following statements is true?

• A) Marginal product is the change in total revenue divided by a one-unit change in a factor.
• B) Marginal revenue is the change in total output divided by the change in output.
• C) Marginal revenue product is marginal product times marginal revenue.
• D) Marginal factor cost is equal to average total cost.

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Definitions:

Algorithm

A step-by-step procedure or formula for solving a problem, often used in mathematical and computer applications.

Means-End Analysis

A problem-solving technique that involves dividing a larger problem into smaller problems and addressing each to reach the ultimate goal.

Working Backwards

A problem-solving strategy that involves starting with the conclusion and working backwards to figure out the problem.

Algorithmic Method

The algorithmic method involves solving problems through a clear, step-by-step procedure or set of rules that guarantees a correct solution.