The formula Δq/ΔL represents
A) total product.
B) the average product of labor.
C) the capital-to-labor ratio.
D) the marginal product of labor.

Name: The formula Δq/ΔL represents A) total product. B) the average product of labor. C) the capital-to-labor ratio. D) the marginal product of labor.
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Question

Quizplus · Accepted Answer

The formula Δq/ΔL represents the change in output (q) resulting from a change in the amount of labor (L) used, which is the definition of the marginal product of labor.

The Formula ΔQ/ΔL Represents