The marginal product of labor is the
A) additional amount of consumer goods that can be bought from an additional hour's worth of work.
B) additional amount of inputs a firm demands based on a change in consumer demand for the output.
C) additional amount of output that can be produced from hiring one more worker.
D) decreasing amount of output that can be produced from hiring one more worker.
E) value of production from the last worker hired.

Question

Quizplus · Accepted Answer

The marginal product of labor (MPL) is the additional amount of output that can be produced by hiring one more unit of labor, while holding other inputs constant. Therefore, choice C is the correct option. Choices A, B, D, and E are incorrect statements that do not accurately describe the concept of marginal product of labor.

The Marginal Product of Labor Is the