The marginal product of labour is defined as
A) the amount of output produced by a given labour force
B) the minimum amount of workers required to produce a given level of output
C) the increase in productivity of the marginal worker if capital is increased
D) the amount of output one more worker could produce given other factors of production are fixed
E) the cost of employing another worker
Correct Answer:
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Q3: The rate of unemployment will be higher
Q4: The most accurate measurement of unemployment
A) is
Q5: The replacement ratio is defined as
A) The
Q6: If firms seek an average markup of
Q7: Which of the following would not give
Q9: Which of the following is the least
Q10: If a firm's marginal product of labor
Q11: Increases in labor productivity from improved technology
A)
Q12: Suppose that production at a firm occurs
Q13: In most developed economies,unemployment insurance benefits
A) are
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