The value of the marginal product of labour is calculated by multiplying the ________ by the ________.
A) wage rate; price of a unit of the output
B) total product; wage rate
C) marginal product of labour; price of a unit of the output
D) quantity of labour; wage rate
E) marginal product of labour; wage rate
Correct Answer:
Verified
Q13: Q14: Which of the following represents a derived Q15: Q16: The demand for a factor of production Q17: Sky High Camping offers overnight camping in Q19: If the demand for a good increases, Q20: The value of the marginal product of Q21: The rule for maximising profit is to Q22: If the price of capital rises, in Q23: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
