Which one of the following variables is most likely to decline as production effort increases? ...
Question:
Which one of the following variables is most likely to decline as production effort increases?
A. Marginal cost
B. Total revenue
C. Marginal revenue
D. Total costs
E. Total production
Production effort
Production effort can be understood as the usage of the labor services as well as capital to complete the production process. A rise in production effort will lead to an increase in the output produced while a decrease in the production effort will reduce the output produced.
Answer and Explanation: 1
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View this answerThe correct option is A) Marginal Cost.
Marginal cost depicts the change in the total cost when an additional unit of a good is produced. When there...
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The Processes of Production and Improving Productivity
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Chapter 11 / Lesson 15
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Learn about production processes. Understand what a production process is, identify the various types of production processes, and review several examples.
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