When output is maximized subject to a labour constraint, the shadow price of labour is the:
A)marginal product of labour.
B)marginal revenue product of labour.
C)market price of labour.
D)amount paid for labour.

Name: When output is maximized subject to a labour constraint, the shadow price of labour is the: A)marginal product of labour. B)marginal revenue product of labour. C)market price of labour. D)amount paid for labour.
Brand: Quizplus
Rating: 4.8 (44 reviews)

Question

Quizplus · Accepted Answer

The Answer is A

When Output Is Maximized Subject to a Labour Constraint, the Shadow