The _____ is the increase in output that is produced when a firm hires an additional worker.
A) average product
B) total product
C) marginal product
D) marginal cost
Correct Answer:
Verified
Q9: The long run is a planning period:
A)over
Q10: In economics,the short run is:
A)less than 1
Q11: A fixed input is one:
A)that only exists
Q12: In the long run:
A)all inputs are fixed.
B)inputs
Q13: The idea of diminishing returns to an
Q15: A _ is an organization that produces
Q16: Use the following to answer question:
Q17: An input whose quantity can be changed
Q18: In the short run:
A)all inputs are fixed.
B)all
Q19: Diminishing returns to an input occur:
A)when all
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