Marginal revenue product is defined as the extra:
A) output a firm would receive after hiring one more unit of resource.
B) cost of hiring one more unit of resource
C) revenue earned by selling one more unit of product.
D) revenue earned by hiring one more unit of resource
E) output received by spending one more dollar on resources
Correct Answer:
Verified
Q9: Firms should hire additional units of a
Q21: The marginal revenue product of labor is:
A)
Q22: Exhibit 11-2 Labor and output data
Q23: The marginal revenue product can be written
Q25: The demand for labor curve is identical
Q26: Exhibit 11-2 Labor and output data
Q27: Assume consumer demand for CD-ROMs increases. The
Q28: The firm's demand for labor curve is
Q29: Marginal revenue product is measured by:
A) MR
Q76: Troll Corporation sells dolls for $10.00 each
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