The marginal product of labor is the
A) change in total product produced by hiring an additional unit of labor.
B) total revenue divided by units of labor.
C) extra revenue gained by selling one more unit of output produced by hiring additional units of labor.
D) extra revenue gained by employing one more unit of labor.
Correct Answer:
Verified
Q15: The demand for a productive resource, not
Q16: The demand for factor is driven by
Q17: The value of marginal product of labor
A)
Q18: The value of marginal product of labor
Q19: The increase in revenue created by hiring
Q21: A firm that can sell its output
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