For a monopoly,the value of the next worker equals
A) MR ∗ MPL.
B) p ∗ MPL.
C) MPL.
D) w/MPL.

Name: For a monopoly,the value of the next worker equals A) MR ∗ MPL. B) p ∗ MPL. C) MPL. D) w/MPL.
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Question

Quizplus · Accepted Answer

For a monopoly, the value of the next worker equals the marginal revenue product of labor (MRPL), which is calculated as the marginal product of labor (MPL) times the marginal revenue (MR), hence MR * MPL.

For a Monopoly,the Value of the Next Worker Equals