One Problem with Personal References Is That

question 65

Multiple Choice

One problem with personal references is that

• A)they are often too long
• B)they tend to be biased
• C)they are almost always poorly written
• D)the writers do not provide enough information
• E)they are usually not signed,therefore illegal

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Definitions:

Marginal Product

The extra production achievable by incorporating an additional unit of a particular input, assuming all other variables remain constant.

Average Product

The output per unit of input, calculated by dividing total output by total input.

Diminishing Marginal Returns

Diminishing Marginal Returns is an economic principle stating that as additional units of a factor of production are added to a fixed amount of other factors, the incremental increase in output will eventually decrease.

Marginal Product

The additional output that results from using one more unit of a specific input, keeping other inputs constant.