Which of the following is the correct formula for calculating the marginal revenue product of labor?
A) The change in total output divided by the change in the quantity of labor.
B) The change in the quantity of labor divided by the change in total revenue.
C) The change in total revenue divided by the change in the quantity of labor.
D) The percentage change in total revenue divided by the percentage change in the quantity of labor.
Correct Answer:
Verified
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