Other Things the Same,which of the Following Could Explain an Increase

question 79

Multiple Choice

Other things the same,which of the following could explain an increase in productivity?

• A)either an increase in human capital or an increase in physical capital
• B)an increase in human capital but not an increase in physical capital
• C)an increase in physical capital but not an increase in human capital
• D)neither an increase in human capital nor an increase in physical capital

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Definitions:

Marginal Expenditure

The additional cost incurred from purchasing one more unit of a good or service.

Average Expenditure

Average expenditure is the amount of money spent per unit of goods or services purchased, calculated by dividing total expenditure by the total number of units bought.

Competitive Quantity

is the quantity of goods produced or services offered based on the equilibrium in a competitive market.

Wage Rate

The fixed amount of compensation or payment received by an employee from an employer in exchange for work performed.