1 the change in output caused by a one-unit change in labor, Ask an Expert

Economics

1. The change in output caused by a one-unit change in labor is referred to as the

a. compounded physical product of labor.

b. average product of labor.

c. marginal product of labor.

d. total product of labor.

2 .Which of the following is NOT a reason why a firm may experience economies of scale?

a. productive specialization

b. dimensional factors

c. improved productive equipment

d. increased levels of management

3. Which of the following would be an example of a fixed cost?

a. the electric and gas bills

b. wages paid to temporary workers

c. property insurance premiums

d. expenditures on imported raw materials.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91995032

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