Marginal Product & Specialization

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Test your knowledge on marginal product and specialization!

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sarah ayyad

United Arab Emirates

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Marginal Product & SpecializationVersion en ligne Test your knowledge on marginal product and specialization! par sarah ayyad 1 Marginal product can be used to determine the optimal level of input usage. Yes No 2 Marginal product can decrease as more units of input are added. Yes No 3 Specialization only benefits individuals or firms, not the overall economy. Yes No 4 Specialization can lead to diseconomies of scale, which can increase production costs. Yes No 5 Marginal product measures the change in output resulting from a one-unit change in input. Yes No 6 Marginal product can be calculated by dividing the change in output by the change in input. Yes No 7 Specialization can lead to decreased trade and economic isolation. Yes No 8 Marginal product is not useful for determining the optimal level of input usage. Yes No 9 Marginal product measures the total output resulting from a one-unit change in input. Yes No 10 Increasing specialization can lead to higher productivity and economic growth. Yes No 11 Specialization can lead to a more efficient allocation of resources. Yes No 12 Specialization can lead to increased trade and economic interdependence. Yes No 13 Increasing specialization can lead to lower productivity and economic decline. Yes No 14 Specialization can lead to a less efficient allocation of resources. Yes No 15 Marginal product can be positive, negative, or zero. Yes No 16 Marginal product can only be calculated for physical inputs, not for human capital. Yes No 17 Specialization allows individuals or firms to focus on producing goods or services in which they have a comparative advantage. Yes No 18 Marginal product always increases as more units of input are added. Yes No 19 Marginal product is always positive. Yes No 20 Specialization can lead to economies of scale, which can lower production costs. Yes No

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