DQuestion 1 1 pts What is the marginal revenue product curve? O The amount of to

Question

DQuestion 1 1 pts What is the marginal revenue product curve? O The amount of total revenue firms make divided by the number of workers O The amount of additional revenue firms make from an additional worker O none of the above O The amount of additional revenue firms make when selling an additional unit DQuestion 2 1 pts The marginal revenue product curve is downward sloping because O for price setter firms, of lower prices charged to sell additional units O the law of diminishing marginal utility O the law of diminishing marginal cost O diminishing product quality

Explanation / Answer

1. The amount of additional revenue firms make when selling an additional unit.

Marginal revenue is the additional revenue when a firm sells an additional unit of output. So, marginal revenue curve shows this additional revenue firm earns.

2. the law of diminishing marginal utility

The marginal revenue product curve is downward sloping because of law of diminishing marginal returns.

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