The Cost of Using an Additional Unit of an Input

question 355

Multiple Choice

The cost of using an additional unit of an input is called the

• A) marginal revenue product.
• B) marginal physical product cost.
• C) marginal factor cost.
• D) marginal product of labor.

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Definitions:

Addiction

A complex brain disorder characterized by escalation, compulsive drug taking, and relapse; called substance use disorder per the DSM-5.

Schizophrenia

A mental disorder characterized by disruptions in thought processes, perceptions, emotional responsiveness, and social interactions, presenting symptoms like hallucinations and delusions.

Incidence

The frequency or rate at which certain events or cases occur within a specified population over a particular period of time.

Sensitization

The method wherein continuous exposure to an external factor progressively increases the intensity of a reaction.