A rise in the marginal revenue product schedule for labor
A) means that the marginal physical product of labor rose.
B) means that more labor is demanded by the firm.
C) means that the demand for the final product has fallen.
D) means that labor's productivity has risen.
Correct Answer:
Verified
Q23: An increase in the demand for steel
Q24: Suppose that land and labor are substitute
Q25: As output rises,
A)marginal revenue product declines.
B)marginal revenue
Q26: A decline in the wage rate would
A)raise
Q27: Which of the following will not cause
Q29: An increase in the price of crude
Q30: The extra revenue that results from hiring
Q31: The most important influence on the marginal
Q32: Increases in the productivity of labor tend
Q33:
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