Author Question: The change in the total output of a firm associated with using one more unit of an input is referred ... (Read 122 times)

londonang · **on:** Jun 29, 2018

The change in the total output of a firm associated with using one more unit of an input is referred to as the:

A) marginal product of the input.
B) total product.
C) average product of the input.
D) variable product of the input.

Question 2

When economists value rewards that will be experienced in the future, they multiply the reward by a:

A) positive factor more than 1.
B) positive factor less than 1.
C) negative factor more than -1.
D) negative factor less than -1.