The marginal product of a worker is equivalent to:
A) the total amount of output produced by all workers combined
B) the amount of output produced by the average worker
C) the amount of output an individual worker contributes to the total output of a firm
D) none of the above
Correct Answer:
Verified
Q90: Profit-maximising competitive firms hire labour until marginal
Q91: A profit-maximising competitive firm that experiences diminishing
Q92: A worker's contribution to a firm's revenue
Q93: When a production function exhibits a marginal
Q94: A profit-maximising employer will always hire up
Q96: Suppose that a profit-maximising firm is increasing
Q97: A competitive firm will hire workers up
Q98: Diminishing marginal product is closely related to:
A)increasing
Q99: When a profit-maximising firm makes a decision
Q100: The hiring decision of a profit-maximising firm
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