_____ is the additional output associated with the employment of one additional person, with other production factors held constant.
A)Productivity
B)The marginal product of labor
C)Incremental productivity
D)The marginal revenue of labor

Question

Quizplus · Accepted Answer

The definition given in the question is that of marginal product of labor, which is the change in output resulting from the employment of one more unit of labor, holding all other factors of production constant. It is the additional output that a firm can expect by increasing its labor inputs by one unit, while keeping all other inputs constant. Therefore, the correct answer is B - the marginal product of labor.

_____ Is the Additional Output Associated with the Employment of One