Marginal Product Is

question 74

Multiple Choice

Marginal product is:

• A) the increase in total output attributable to the employment of one more worker.
• B) the increase in total revenue attributable to the employment of one more worker.
• C) the increase in total cost attributable to the employment of one more worker.
• D) total product divided by the number of workers employed.

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Definitions:

Industry Demand Curve

A graphical representation of the total demand for the products or services provided by a specific industry at various prices.

Network Externalities

Benefits or costs that affect a user of a product or service, depending on the number of other users of the same or similar products or services.

NCAA

The National Collegiate Athletic Association, an organization that regulates athletes of many U.S. colleges and universities, setting eligibility criteria and organizing sports competitions.

College Athletics

Organized sports and physical competitiveness among universities and colleges as part of the educational experience.