The marginal product of labor curve shows the change in total product resulting from:
A)one-unit increase in the quantity of a particular resource used, letting other resources vary.
B)one-unit increase in the quantity of a particular resource used, holding constant other resources.
C)change in the cost of a variable resource.
D)change in the cost of a fixed resource.

Question

Quizplus · Accepted Answer

The marginal product of labor curve illustrates the additional output generated by adding one more unit of labor, assuming all other inputs remain constant. This concept is fundamental in understanding how varying the amount of labor affects total production under the ceteris paribus condition (all other factors being held constant).

The Marginal Product of Labor Curve Shows the Change in Total