Which of the following formulas is CORRECT?
A) VMPL = MC × P.
B) VMPL = MPL × P.
C) MPL = VMPL × P.
D) VMPL / MC = TR.

Name: Which of the following formulas is CORRECT? A) VMPL = MC × P. B) VMPL = MPL × P. C) MPL = VMPL × P. D) VMPL / MC = TR.
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Question

Quizplus · Accepted Answer

VMPL is the value of the marginal product of labor, which is equal to the marginal product of labor (MPL) multiplied by the price of the output (P).

Which of the Following Formulas Is CORRECT