The marginal revenue product of labor is equal to A)MP_L P. B)MP_L / P. C)MP_L ^* MR. D)MP_L / MR E)MR / MP_L

Name: The marginal revenue product of labor is equal to A)MP L P. B)MP L / P. C)MP L * MR. D)MP L / MR E)MR / MP L
Brand: Quizplus
Rating: 4.8 (43 reviews)

Question

Quizplus · Accepted Answer

The marginal revenue product of labor (MRP_L) is calculated as the marginal product of labor (MP_L) multiplied by the marginal revenue (MR) that each additional unit of labor brings.

The Marginal Revenue Product of Labor Is Equal to