Marginal revenue product is the
A) change in revenue from selling an extra item.
B) marginal revenue from hiring an additional worker.
C) extra product produced from spending marginal revenue on inputs.
D) change in revenue from the total production.
Correct Answer:
Verified
Q13: In a perfectly competitive labor market, employers
Q14: In a perfectly competitive labor market, the
Q15: Which of the following is NOT a
Q16: The marginal product of labor is the
A)amount
Q17: The marginal revenue from hiring an additional
Q19: The marginal revenue product is equal to
Q20: The marginal revenue product of labor is
Q21: The marginal cost of an additional worker
Q22: An additional worker hired, produces extra output
Q23: An employer should hire one more worker
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