A Hotel Introduces Eco-Rooms That Have Energy-Efficient Mini-Bars, Organic Bed

question 29

Multiple Choice

A hotel introduces eco-rooms that have energy-efficient mini-bars, organic bed linen, and napkins made of recycled papers.They also advertise that their rooms are fitted with CFLs or LEDs to conserve energy.This is an example of:

• A)green bin.
• B)green washing.
• C)green marketing.
• D)bid rigging.
• E)bait-and-switch.

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Definitions:

Average Product

The output per unit of input, calculated by dividing total product by the total quantity of input used to produce that output.

Nonlabor Resources

Inputs or resources used in production that do not include human labor, such as raw materials, machinery, and land.

Marginal Product

The additional output generated by adding one more unit of a specific input, such as labor or capital, while holding other inputs constant.

Total Product

Total product refers to the total quantity of output produced by a firm within a given period as a result of inputs like labor and capital.