The production function is the
A: increase in the amount of output from an additional unit of labor.
B: marginal product of an input times the price of output.
C: relationship between the quantity of inputs and output.
D: shift in labor demand caused by a change in the price of output.
A: increase in the amount of output from an additional unit of labor.
B: marginal product of an input times the price of output.
C: relationship between the quantity of inputs and output.
D: shift in labor demand caused by a change in the price of output.
举一反三
- Marginal product of labor is the increase in the amount of output from an additional unit of labor. A: right. B: wrong.
- A production function relates the amount or volume of output to the various inputs of labor, material and equipment.( )
- The marginal product of an input in the production process is the increase in A: total revenue obtained from an additional unit of that input. B: quantity of output obtained from an additional unit of that input. C: profit obtained from an additional unit of that input. D: total revenue obtained from an additional unit of that input.
- The DD schedule shows_______. ( ) A: interest rate and output pairs for which aggregate demand equals aggregate output. B: exchange rate and output pairs for which aggregate demand equals aggregate output.2 C: interest rate and output pairs for which aggregate supply equals aggregate output. D: exchange rate and output pairs for which aggregate demand is greater than aggregate output.
- A competitive firm hires labor until the marginal product of labor equals the A: real wage. B: rental price of capital. C: price of output. D: capital/labor ratio.