The change in total product occurring when a variable input is increased and all other inputs are held constant is
A) average total cost.
B) marginal cost.
C) average product.
D) marginal product.
Answer: D
You might also like to view...
Which of the following is true about the United States?
A. There have been recessions approximately every ten years. B. The pattern of recessions does not occur on a regular basis. C. Periods of economic growth and recessions occur in two-year patterns. D. Recessions always last less than one year. E. Recessions in the United States are generally more severe than they are in other countries.
Assuming all else equal, if the real interest rate increases, it will lead to:
A) a decrease in the quantity of credit demanded by a firm. B) a rightward shift of the credit demand curve of a firm. C) a leftward shift of the credit demand curve of a firm. D) an increase in the quantity of credit demanded by a firm.
Which of the following is a characteristic of a single-price monopoly?
A) The firm is a price taker. B) Demand is perfectly elastic. C) There are many close substitutes for the firm's product. D) The market price exceeds marginal revenue.
How did the U.S. government make the American public have confidence in the nation's currency in the 1870s?
(A) The government permitted state-chartered banks to issue currency. (B) The government established the First Bank of the United States. (C) The government backed the currency with cotton. (D) The government adopted the gold standard.