The additional cost associated with hiring one additional unit of some factor input, such as labor, is referred to as
A. marginal revenue product.
B. marginal revenue cost.
C. marginal physical product of labor.
D. marginal factor cost.
Answer: D
You might also like to view...
The ability to keep rivals out of the market is the recipe for creating and maintaining a monopoly.
Answer the following statement true (T) or false (F)
Opportunity cost is the highest possible price you can receive when you sell an object.
Answer the following statement true (T) or false (F)
The bottom or low point of a recession just before an expansion begins is called...
What will be an ideal response?
A person's productive contribution in a capitalist society is measured by determining the
A) market value of the individual's output. B) comparable output of other workers in similar jobs. C) total number of goods produced by the individual. D) index of occupational values.