Author Question: The increase in total output that results from a unit increase in one unit of a variable input is ... (Read 45 times)

AEWBW · **on:** Jun 30, 2018

The increase in total output that results from a unit increase in one unit of a variable input is equal to the input's:
a. total product.
b. marginal product.
c. average product.
d. marginal cost.

Question 2

Which of the following would indicate the beginning of an expansionary phase in an economy?
a. A minor increase in the number of new firms
b. A decline in stock market prices
c. An improvement in consumer confidence
d. A slowdown in housing construction
e. A decrease in the number of orders for new equipment