The value of marginal product of labour is the revenue
A) generated by selling an additional unit of output.
B) needed to hire an additional unit of labour.
C) generated by employing an additional unit of labour.
D) needed to cover the cost of producing an additional unit of output.
E) generated to cover the cost of hiring an extra unit of labour.
Correct Answer:
Verified
Q6: To maximize profit,a firm hires labour until
A)there
Q7: Use the table below to answer the
Q8: An example of a nonrenewable natural resource
Q9: The four factors of production are
A)productive factors,neutral
Q10: Suppose a gift shop in Corner Brook,Newfoundland,hires
Q12: If the marginal product of a baker
Q13: The Brown's Egg store in Lethbridge,Alberta hires
Q14: Consider the factors of production.The price in
Q15: Choose the statement that is incorrect.
A)Labour services
Q16: Use the table below to answer the
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