The marginal revenue product of labor equals
A) MP/wage
B) change in total revenue/change in units of labor
C) change in total revenue times the change in units of labor
D) P/MP
E) MP $\times$ wage

Question

Quizplus · Accepted Answer

The marginal revenue product of labor measures the change in total revenue resulting from a one-unit change in labor input. Therefore, the formula for marginal revenue product of labor is the change in total revenue/change in units of labor.

The Marginal Revenue Product of Labor Equals A) MP/wage B) ×\times×

The Marginal Revenue Product of Labor Equals
A) MP/wage
B) $\times$