Author Question: The production function shows A) the incremental output gained by improving the production ... (Read 114 times)

PhilipSeeMore · **on:** Jun 29, 2018

The production function shows

A) the incremental output gained by improving the production process.
B) the maximum output that can be produced from each possible quantity of inputs.
C) the technology used to produce output.
D) the total cost of producing a given quantity of output.

Question 2

Refer to Figure 13-2. The marginal revenue from selling the additional unit Qb instead of Qa equals

A) the area (H - E). B) the area (G + H).
C) the area G. D) the area (E + F) - (G + H).