The marginal product of labor is the
A) amount of extra worker time it takes to produce one extra unit of output.
B) change in output from the slowest worker to the most productive worker.
C) extra output produced by all the firm's employees.
D) extra production that occurs from hiring an extra worker.
Correct Answer:
Verified
Q11: In a perfectly competitive labor market, employers
A)pay
Q12: In a perfectly competitive labor market, employers
Q13: In a perfectly competitive labor market, employers
Q14: In a perfectly competitive labor market, the
Q15: Which of the following is NOT a
Q17: The marginal revenue from hiring an additional
Q18: Marginal revenue product is the
A)change in revenue
Q19: The marginal revenue product is equal to
Q20: The marginal revenue product of labor is
Q21: The marginal cost of an additional worker
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