The additional revenue associated with hiring one additional unit of some factor input, such as labor, is called
A) marginal cost.
B) marginal revenue product.
C) marginal factor cost.
D) marginal physical product.
Correct Answer:
Verified
Q128: The cost of hiring one more worker,
Q129: The additional cost associated with hiring one
Q130: Q131: Marginal factor cost is computed as Q132: Derived demand is Q134: Which of the following represents the general Q135: If the price of a product being Q136: The MRP is Q137: Since the demand for labor depends upon Q138: The MRP of labor will shift to
A) total
A) a derivative of the
A) the supply curve of
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