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Marginal Product & Specialization

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Test your knowledge on marginal product and specialization!

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Marginal Product & SpecializationVersion en ligne

Test your knowledge on marginal product and specialization!

par sarah ayyad
1

Specialization can lead to a less efficient allocation of resources.

2

Marginal product is always positive.

3

Marginal product can be used to determine the optimal level of input usage.

4

Specialization can lead to decreased trade and economic isolation.

5

Specialization can lead to a more efficient allocation of resources.

6

Specialization only benefits individuals or firms, not the overall economy.

7

Marginal product can be calculated by dividing the change in output by the change in input.

8

Specialization allows individuals or firms to focus on producing goods or services in which they have a comparative advantage.

9

Marginal product can only be calculated for physical inputs, not for human capital.

10

Marginal product can be positive, negative, or zero.

11

Increasing specialization can lead to higher productivity and economic growth.

12

Marginal product can decrease as more units of input are added.

13

Specialization can lead to increased trade and economic interdependence.

14

Marginal product is not useful for determining the optimal level of input usage.

15

Marginal product measures the change in output resulting from a one-unit change in input.

16

Specialization can lead to economies of scale, which can lower production costs.

17

Specialization can lead to diseconomies of scale, which can increase production costs.

18

Increasing specialization can lead to lower productivity and economic decline.

19

Marginal product measures the total output resulting from a one-unit change in input.

20

Marginal product always increases as more units of input are added.

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