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Question:Question 25 for which good will marginal utility likely fall the fastest for additional units?

Question:Question 25

for which good will marginal utility likely fall the fastest for additional units?

cookies

today's newspaper

house decorations

a t-shirt

 

Question 26

what is the marginal physical product of labor? (marginal product)

the additional profit earned by adding one more worker

the additional output from adding one more worker

the additional labor needed to produce a given output

the additional cost of adding one more worker

 

Question 27

What is a short run question for a business firm?

how should the firm schedule workers?

should the firm change the products it offers?

should the firm move to a new location?

should the firm install new equipment?

 

Question 28

the marginal cost curve intersects the average total cost curve

where average total cost equals average variable cost

where the marginal cost is maximized

at the minimum of the marginal cost

at the minimum of the average total cost

 

Top Answer

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