The change in total revenue that results from employing one more unit of labor is called the
A) wage rate.
B) value of marginal product of labor.
C) average revenue.
D) marginal product of labor.
Correct Answer:
Verified
Q2: Coal is an example of
A) a nonrenewable
Q3: Jose owns a local coffee shop. When
Q4: The value of marginal product (VMP) of
Q5: The value of marginal product equals marginal
Q6: The value of marginal product (VMP) of
Q8: The demand for labor is a derived
Q9: The value of marginal product of labor
Q10: Water from the Mississippi river is an
Q11: The value of an additional baker to
Q12: Profit is the factor price for
A) capital.
B)
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