A Product with a High Value-To-Weight Ratio Is Expensive and Weighs

question 57

True/False

A product with a high value-to-weight ratio is expensive and weighs a lot.

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Definitions:

Output

The total amount of goods or services produced by a person, machine, factory, country, etc., within a particular time period.

Marginal Product

The additional output generated by employing one more unit of a factor of production.

Output Level

The total quantity of goods and services that a firm or industry produces over a set period.

Marginal Cost

The additional cost incurred by producing one more unit of a product or service.