Vending Machines Are No Longer Limited by the Necessity to Use

question 95

Multiple Choice

Vending machines are no longer limited by the necessity to use coins, in fact in Japan, Korea, and the Philippines consumers use cell phones that transmit payments to vending machines via an infrared beam or a radio wave.This is an example of how vending machines can provide which type of utility?

• A)time
• B)place
• C)form
• D)product
• E)possession

Calculate the marginal product of labor using its formula.

Understand the implications of the law of diminishing marginal returns in production.

Interpret the relationship between marginal and average products of labor.

Understand and analyze the effect of changes in input prices on production decisions.

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Definitions:

Variance

A measure of the dispersion or spread between numbers in a data set, indicating how much the numbers differ from the mean.

Portfolio Risk

The risk associated with holding a portfolio of investments, reflecting the potential for loss due to market volatility.

Diversified Away

A strategy to reduce risk by allocating investments among various financial instruments, industries, or other categories to avoid overexposure to any single asset or risk.

Market Risk Premium

The additional yield investors anticipate for maintaining a portfolio of risky securities over safe assets.