The Trichromat

question 53

Multiple Choice

The trichromat:

• A)can see all colors of the spectrum.
• B)sees only red,green,and white.
• C)cannot see color.
• D)cannot perceive red and green.

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Definitions:

Marginal Product

The additional output that is generated by employing one more unit of a particular input.

Marginal Productivity Theory

An economic theory that posits that wages are determined by the marginal productivity of the laborer to the employer’s production.

Wage Disparities

The differences in wages or salaries between individuals or groups due to various factors such as occupation, experience, gender, or age.

Factor Markets

The markets for the inputs used in production, including labor, capital, land, and entrepreneurship.