The marginal product of labor (MPL) is given by the ________.
A) labor share of income + average output per unit of labor
B) labor share of income - average output per unit of labor
C) labor share of income ÷ average output per unit of labor
D) labor share of income × average output per unit of labor
E) none of the above
Correct Answer:
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Q30: What do we learn from the shape
Q31: The marginal product of capital (MPK)is given
Q32: The marginal product of labor (MPL)measures _.
A)by
Q33: Diminishing marginal product means that _.
A)when adding
Q34: The marginal product of capital (MPK)can be
Q36: The marginal product of labor (MPL)can be
Q37: As the capital stock increases,_.This means that
Q38: As the amount of labor input increases
Q39: Constant returns to scale (CRS)implies _.
A)constant returns
Q40: Using the Cobb-Douglas production function,while holding other
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