When F(k) Is Drawn on a Graph with Increases in K

question 71

Multiple Choice

When f(k) is drawn on a graph with increases in k noted along the horizontal axis, the slope of the line denotes:

• A) output per worker.
• B) output per unit of capital.
• C) the marginal product of labor.
• D) the marginal product of capital.

---

Definitions:

Price

The money value projected, needed, or surrendered in purchase of something.

Imperfect Competition

A market structure that does not meet the conditions of perfect competition, characterized by firms having control over the price of their goods or services.

Marginal Revenue Curve

A graphical representation showing how additional revenue changes with an increase in the quantity of goods or services sold.