The Marginal Revenue Product of Land Curve Indicates

question 179

Multiple Choice

The marginal revenue product of land curve indicates

• A)the additional output generated by an additional unit of land, other things constant
• B)the additional cost to the firm when it employs an additional unit of land, other things constant
• C)the additional profit the firm earns when it employs an additional unit of land, other things constant
• D)the additional revenue the firm earns when it employs an additional unit of land, other things constant
• E)the amount of land required to produce an additional unit of output, other things constant

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Definitions:

Soviet Union

A former federation of communist republics located in northern Eurasia, existing from 1922 to 1991.

American Wheat

Refers to wheat produced in the United States, a major global exporter of wheat, known for its quality and used both domestically and internationally.

Derived Demand

The demand for a good or service that arises from the demand for another good or service; for example, the demand for steel is derived from the demand for automobiles.

Wage Rate

The amount of money a worker is paid per unit of time, such as an hour or a month.