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Author Question: Explain what is meant by marginal product. What will be an ideal ... (Read 120 times)

danielfitts88

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on: Jun 29, 2018
Explain what is meant by marginal product.
 
  What will be an ideal response?

Question 2

High-income countries have ________ and ________ as compared to developing countries.
 
  A) high rates of savings; low rates of growth B) high rates of savings; high rates of growth
  C) low rates of savings; high rates of growth D) low rates of savings; low rates of growth


Sweetkitty24130

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Marginal product is the additional output that can be produced by adding one more unit of a specific input (all else equal).

Answer to Question 2

B


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danielfitts88

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Reply #2 on: Jun 29, 2018
Thank you :)


Sweetkitty24130

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Reply #3 on: Jun 29, 2018
Happy to help you


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