The marginal product of labor (MPL) can be calculated from the following ________.
A) the labor share of income and the average output per unit of labor
B) the labor share of income and average labor per worker
C) output and labor
D) the labor share of income and output
E) none of the above
Correct Answer:
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Q31: The marginal product of capital (MPK)is given
Q32: The marginal product of labor (MPL)measures _.
A)by
Q33: Diminishing marginal product means that _.
A)when adding
Q34: The marginal product of capital (MPK)can be
Q35: The marginal product of labor (MPL)is given
Q37: As the capital stock increases,_.This means that
Q38: As the amount of labor input increases
Q39: Constant returns to scale (CRS)implies _.
A)constant returns
Q40: Using the Cobb-Douglas production function,while holding other
Q41: Suppose an economy has an increase in
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