Increases in the productivity of labor tend to
A) increase the marginal revenue product of labor and the wages employers are willing to pay for any given amount of labor.
B) decrease the marginal revenue product of labor and increase the wages employers are willing to pay for any given amount of labor.
C) increase the marginal revenue product of labor but have no effect on the wages employers are willing to pay for any given amount of labor.
D) decrease the marginal revenue product of labor and the wages employers are willing to pay for any given amount of labor.
Correct Answer:
Verified
Q27: Which of the following will not cause
Q28: A rise in the marginal revenue product
Q29: An increase in the price of crude
Q30: The extra revenue that results from hiring
Q31: The most important influence on the marginal
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