If we assume that labor is the only variable input, the slope of the total product curve in the short run
A) has no economic significance.
B) measures the average product of labor.
C) measures the marginal product of labor.
D) measures both the marginal and average product at all points on the total product curve.

Question

Quizplus · Accepted Answer

The slope of the total product curve in the short run measures the marginal product of labor, indicating the additional output produced by adding one more unit of labor, assuming all other inputs are held constant.

If We Assume That Labor Is the Only Variable Input