Marginal product is the:Multiple choice question.total output produced as a result of utilizing one more unit of a variable resource.total output produced as a result of utilizing one more unit of a fixed resource.additional output produced as a result of utilizing one more unit of a fixed resource.additional output produced as a result of utilizing one more unit of a variable resource.

The additional output produced as a result of utilizing one more unit of a variable resource is called:Multiple choice question.marginal revenue.marginal product.total cost.total product.

The increase in output created by the addition of one more unit of input is called:A.marginal revenue product.B.marginal resource cost.C.marginal physical product.D.marginal revenue.E.marginal cost.

Multiple Choice QuestionWhat is marginal resource cost?Multiple choice question.The change in a firm's total revenue when it employs one additional unit of a resource.The change in quantity demanded of a resource that results from a change in its relative cost.The additional output produced when one additional unit of a resource is employed.The amount that each additional unit of a resource adds to the firm's total resource cost.

Average product is the:Multiple choice question.additional output produced as a result of utilizing one more unit of a fixed resource.amount of output produced per unit of a resource employed.total output produced as a result of utilizing one more unit of a fixed resource.amount of a resource employed per unit of output.

The total output of a business divided by the number of labor units employed gives the _____ product of labor.Multiple choice question.marginalmedianaverage