# The amount of output a firm can produce with a given quantity of fixed and variable inputs is...

## Question:

The amount of output a firm can produce with a given quantity of fixed and variable inputs is called:

A) Total fixed product.

B) Average variable product.

C) Marginal product.

D) Total product.

## Product:

A product is described as a thing or object manufactured by the companies to produce profit by selling it into the marketplace to their target customers. It can be considered intangible or tangle. Products are distinguished by their brand name and category.

## Answer and Explanation: 1

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View this answer**The correct option is: D) Total product.**

Explanation:

The total product is described as one of the concepts of economics. It is described as an...

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Chapter 4 / Lesson 2In Economics, there are three factors involved in the theory of production: total product, average product, and marginal product. Explore this theory and learn how to maximize the efficiency of these production tools.

#### Related to this Question

- The amount of output produced with an additional unit of variable input is referred to as: A) marginal product. B) total product. C) average variable product. D) average fixed product.
- The change in the total output of a firm associated with using one more unit of an input is referred to as the: A. marginal product of the input. B. variable product of the input. C. average product of the input. D. total product.
- Average physical product is calculated by dividing total product by the: a. amount of variable and fixed inputs employed. b. quantity of the variable input. c. quantity of the fixed input. d. production function.
- Total cost divided by the quantity of output produced is: a. marginal cost. b. average total cost. c. average product. d. average fixed cost.
- If the marginal product is 50 and the average (total) product is 75, we can be sure that: a) marginal product is rising. b) average total product is rising. c) marginal product is falling. d) average total product is falling.
- Compute Total Output, Marginal Product of Variable Input, and Average Product of Variable Input according to the Quantity of Variable Input in the given table.
- A firm is using a single variable input, labor, with a given amount of a fixed input, capital. If the level of capital is decreased: a. the total product curve shifts downward. b. the average product curve of labor shifts downward. c. the marginal product
- The marginal product of labour is the increase in the total product that results from A) One-unit increase in both the quantity of variable and fixed inputs. B) One-unit increase in the quantity of fixed inputs employed, holding the quantity of the vari
- The addition to total output resulting from using one more unit of a productive resource is the a. average product. b. marginal input. c. total product. d. marginal product.
- Marginal product is the change in: a. total output minus the change in input. b. total output divided by the change in input. c. input divided by the change in total output. d. total output plus the change in input. e. total output times the change i
- If marginal product is zero: a. total product is also zero. b. average product is also zero. c. total output is maximized. d. average product is constant.
- The Marginal Product of an input is: 1) total product divided by the amount of the input used to produce this amount of output. 2) the addition to total output that adds nothing to total revenue. 3) the addition to total output that adds nothing to profi
- Marginal product is: a. the change in total product divided by the change in the quantity of labor b. total product divided by the quantity of labor c. always positive d. unrelated to total product
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- Marginal product of labour is the increase in total product that results from a: A) one-unit increase in the quantity of fixed inputs employed, holding the quantity of the variable inputs constant. B) 1 percent change in the quantity of labour and the q
- If marginal product is equal to average product: a) The total product will fall. b) The average product will not change. c) Average variable costs will fall. d) Total revenue will fall.
- The ratio of the change in total product to the change in total quantity of the variable input being used is: A. equal to marginal product. B. constant as employment levels of the input vary. C. equal to average product. D. equal to the marginal rate o
- Total product divided by the total quantity of labor employed equals the A. average product of labor. B. average total cost. C. marginal product of labor. D. average variable cost.
- Total cost divided by the quantity of output is a. average variable cost. b. average total cost. c. average fixed cost. d. marginal cost. e. total variable cost.
- A firm that has total fixed costs of $20,000 sells its output for $150 per unit and has an average variable cost of $200. If the firm's cost and revenue curves are linear, how much output must the firm produce to break even? a. 500 b. 400 c. 300 d. Th
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- Total output is maximized when: A. average product is maximized B. marginal product equals zero C. marginal product is maximized D. average product equals zero
- From a firms short run production function, the marginal product of labor and the average product of labor may be determined. The marginal product of labor is the: A. total output divided by the numb
- Average total cost is $200 for a given output, total fixed cost is $100, and average variable cost is $140. What is the quantity being produced?
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- The marginal product of labor is: a. the change in labor divided by the change in total product. b. the slope of the total product of labor curve. c. the change in average product divided by the change in the quantity of labor. d. none of the above.
- Marginal revenue: a. is always greater than the total revenue. b. is the change in total revenue associated with producing one more unit of output. c. is always equal to the price of the good. d. is the product of the price of a good and its quantity sold
- 1) Marginal cost is defined as: a) Total cost divided by total output b) The change in fixed cost from producing one more unit of output c) Total variable cost divided by total output d) The change in
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- The change in total output resulting from a 1-unit increase in the quantity of a factor of production used, holding the quantities of all other factors of production constant, is: a) average cost. b) average product. c) marginal cost. d) marginal product.
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- An economist estimated that the cost function of a single-product firm is C(Q) = 100 + 20Q + 15Q^2 + 10Q^3, where Q is the quantity. Calculate the average variable cost of producing 10 units of output.
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- When labor used is 12 units and output is 36, then a) the marginal product of labor is 3. b) the total product of labor is 1/3. c) the average product of labor is 3. d) None of the above.
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