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Assoli18 [71]
3 years ago
8

The marginal product of an input is the addition to total output due to the addition of the last unit of an input, holding all o

ther inputs constant. the addition to total output due to the addition of one unit of all other inputs. total product divided by the amount of the input used to produce this amount of output. the addition to total output that adds nothing to profit. the addition to total output that adds nothing to total revenue.
Business
1 answer:
Harman [31]3 years ago
6 0

Answer:

is the addition to total output due to the addition of the last unit of an input, holding all other inputs constant.

Explanation:

The marginal product of an input is the change in total output as a result of the change in output by 1 unit

For example, the table below is the total product of labour

amount of labour output

1                                 10

2                                20

3                                40

the marginal product of the 3rd worker = (40 - 20) / (3 - 2) = 20

marginal product of the second worker = (20 - 10) / (2 -1 ) = 10

Average output = total output / labour

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The managed care plan that is allowed to contract directly with employers to provide health care services is the?
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2 years ago
A company that produces racing motorbikes has several models that sell well within the motorcycle racing community and which are
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4 years ago
You want to buy a new sports coupe for $74,400, and the finance office at the dealership has quoted you a loan with an apr of 6.
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 P = r(PV)/(1-(1+r)^(-n))
 where
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 r = interest rate per period
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 ER = 0.07015988024972 = 7.015988024972% 
 So after rounding, the effective interest rate is 7.02%
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