The marginal product of labor is (holding capital stock constant)
A) the difference between what the firm can produce with its current labor force and what it would produce if it hired one more worker.
B) the product between what the firm can produce with its current labor force and what it would produce if it hired one more worker.
C) the sum of what the firm can produce with its current labor force and what it would produce if it hired one more worker.
D) the ratio of between what the firm can produce with its current labor force and what it would produce if it hired one more worker.

Question

Quizplus · Accepted Answer

The marginal product of labor is defined as the additional output a firm can produce by hiring one more worker, keeping all other inputs constant. This is essentially the difference in output levels before and after the addition of the extra worker.

The Marginal Product of Labor Is (Holding Capital Stock Constant)