The Extra Amount of Output a Business Can Generate by Adding

question 53

Multiple Choice

The extra amount of output a business can generate by adding one more hour of labor is called

• A) Marginal revenue.
• B) Labor input.
• C) Marginal cost.
• D) Marginal product.

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Definitions:

Criminal Matters

Legal issues pertaining to crimes, which are acts or omissions violating public law and are subject to punishment by the state.

Corporation

A legal entity created under state law, considered distinct from its owners, that can own property, incur debt, sue and be sued.

Service of Process

The procedure by which a party to a lawsuit gives an appropriate notice of initial legal action to another party, court, or administrative body.

President

The elected head of a Republican state or the chief executive officer of a company or organization.