When a firm hires another employee and,as a result,total output increases,this change in total output is also known as
A) total output.
B) marginal employment.
C) marginal product.
D) labor contribution.
E) marginal benefit.
Correct Answer:
Verified
Q38: Economic profit is equal to
A) total revenue
Q39: Jackie is the owner of a furniture
Q40: According to the concept of the production
Q41: If all workers are able to specialize
Q42: If the marginal product of labor for
Q44: As a firm hires more labor and
Q45: The three primary inputs are
A) revenue,profits,and costs.
B)
Q46: Fathima owns a car shop that repairs,among
Q47: The production function for bookshelves includes
A) yeast,flour,pans,ovens,and
Q48: A firm's production function is similar to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents