Multiple Choice QuestionImprovements in the quality of a variable resource increase Blank______ and therefore its demand.Multiple choice question.costsmarginal productivityqualityresource supplymarginal supply
Question
Multiple Choice QuestionImprovements in the quality of a variable resource increase Blank______ and therefore its demand.Multiple choice question.costsmarginal productivityqualityresource supplymarginal supply
Solution
The correct answer is "marginal productivity".
Step 1: Understand the question. The question is asking about the effect of improvements in the quality of a variable resource.
Step 2: Understand the options. The options given are costs, marginal productivity, quality, resource supply, and marginal supply.
Step 3: Apply economic principles. In economics, when the quality of a resource improves, it becomes more productive. This means it can produce more output for the same amount of input.
Step 4: Choose the correct answer. Therefore, the correct answer is "marginal productivity" because it increases with improvements in the quality of a resource, which in turn increases its demand.
Similar Questions
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