Question

Match the following terms to the correct definitions.

A. Short run

B. Marginal product of labor

C. Long run

D. Marginal revenue

E. Law of diminishing returns

F. Fixed cost

G. Variable cost

H. Profit-maximizing output level

I. Total cost

J. Output

K. Diminishing marginal productivity

L. Cost minimization

___________ 12. The amount of a good or service a firm produces.

Solution

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Answered 1 year ago
Answered 1 year ago

J. Output

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