The additional income generated when a firm employs one additional unit of human resources, with other production factors held constant is known as the marginal ________.
A)revenue of labour
B)cost of labour
C)input
D)net income
E)labour expenditure

Question

Quizplus · Accepted Answer

The additional income generated by employing one more unit of labor is referred to as the marginal revenue of labor. This concept measures the additional revenue a firm earns from hiring an additional worker, assuming other factors remain constant.

The Additional Income Generated When a Firm Employs One Additional