The marginal product of labor can be defined as:
A) the change in profit divided by the change in labor, other factors of production held constant.
B) the change in total output divided by a one unit change in labor, other factors of production held constant.
C) the total output divided by the total labor utilized.
D) the change in labor utilized divided by the change in total output, other factors of production held constant.
Correct Answer:
Verified
Q51: Which of the following observations is true?
A)
Q52: Exhibit 11-1 Q53: Diminishing marginal product of labor occurs when: Q54: Which of the following is a reason Q55: Kelly,who grows geraniums to sell,is currently producing Q57: If opportunity costs are ignored: Q58: The long-run production period: Q59: Which of the following factors of production Q60: In the table below,diminishing marginal product is Q61: Exhibit 11-4 
A)
A) all firms
A) is a time
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