If we assume that labor is the only variable input, the slope of the short-run ________ curve measures the marginal product of labor.
A) average product
B) marginal product
C) total product
D) total cost

Question

Quizplus · Accepted Answer

The slope of the short-run total product curve measures the marginal product of labor, as it represents the change in total output resulting from a one-unit change in labor, holding all other inputs constant.

If We Assume That Labor Is the Only Variable Input