The marginal product of labor is defined as the increase in output attributable to the last worker hired divided by the total number of workers employed.

Name: The marginal product of labor is defined as the increase in output attributable to the last worker hired divided by the total number of workers employed.
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Question

Quizplus · Accepted Answer

The marginal product of labor is defined as the increase in output attributable to the last worker hired, not divided by the total number of workers employed.

The Marginal Product of Labor Is Defined as the Increase