Marginal product of labour is the increase in total product that results from a
A) one-unit increase in the quantity of labour employed, other inputs remaining the same.
B) one-unit increase in the quantity of fixed inputs employed, holding the quantity of the variable inputs constant.
C) one-unit increase in both the quantity of variable and fixed inputs.
D) change in the cost of labour.
E) 1 percent change in the quantity of labour and the quantity of capital employed.
Correct Answer:
Verified
Q2: The long run is a time frame
Q9: The short run is a time frame
Q11: Use the figure below to answer the
Q12: Use the information below to answer the
Q21: A firm's total product curve describes
A)the minimum
Q22: The total product curve is a graph
Q26: Choose the correct statement.
A)The long run is
Q27: The long run refers to a time
Q27: Table 11.2.1 Q36: Table 11.2.1
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