As Output Rises

question 47

Multiple Choice

As output rises,

• A)both marginal revenue product and marginal physical product rise.
• B)both marginal revenue product and marginal physical product fall.
• C)marginal revenue product rises and marginal physical product falls.
• D)marginal revenue product rises and marginal physical product rises.

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Definitions:

Hourly Wage

The rate of pay for each hour worked, commonly used to compensate employees in many jobs.

Cost of Gasoline

The price consumers pay for gasoline, influenced by factors like oil production levels, taxes, and demand for fuel.

Technology

The application of scientific knowledge for practical purposes, especially in industry and commerce, driving innovation and efficiency.

Production

The process of creating, expanding, manufacturing, or improving goods and services.