The marginal revenue product of labor is equal to: A) MP_L / P. B) MP_L ∗ MR. C) MP_L / MR. D) MR / MP_L.

Name: The marginal revenue product of labor is equal to: A) MP L / P. B) MP L ∗ MR. C) MP L / MR. D) MR / MP L .
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Question

Quizplus · Accepted Answer

The marginal revenue product of labor (MRPL) is calculated by multiplying the marginal product of labor (MPL) by the marginal revenue (MR). This is represented in option B as MP_L * MR, where MP_L seems to be a placeholder for MPL.

The Marginal Revenue Product of Labor Is Equal To