The change in the total revenue of a firm that results from employing one additional unit of a factor of production is defined as the
a. total revenue product of the resource.
b. marginal product of the resource.
c. marginal revenue product of the resource.
d. average revenue product of the resource.
C
You might also like to view...
The entire group of buyers and sellers of a particular good or service makes up:
A. the market. B. the equilibrium price and quantity. C. the demand curve. D. the supply curve.
A tax on suppliers will cause the ________ schedule to shift ________.
A. supply, right B. demand, right C. demand, left D. supply, left
Refer to Figure 11.2. Suppose that Ca = 40, MPC = 0.8, I = 10. Equilibrium income is
A) 40. B) 50. C) 250. D) 400.
Consumers who are more sensitive to changes in price suffer a greater loss of consumer surplus from any given price increase
Indicate whether the statement is true or false