Multiple Choice
The marginal physical product (MPP) of a variable input is
A) total output divided by the quantity of the input used.
B) the change in total output that results from changing the variable input by one unit.
C) the change in total revenue that results from changing the variable input by one unit.
D) the change in total output that results from changing the fixed input by one unit.
E) the change in total costs that results from a change in output.
Correct Answer:

Verified
Correct Answer:
Verified
Q198: If a firm is earning an economic
Q199: An unrecoverable cost that should be disregarded
Q200: In the long run, only variable costs
Q201: At 1,000 units of output, total cost
Q202: If the quantity of output rises as
Q204: As a firm produces more units of
Q205: Exhibit 21-8<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 21-8
Q206: Exhibit 21-14<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 21-14
Q207: The law of diminishing marginal returns holds
Q208: Exhibit 21-3<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 21-3