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Answer to Question #221274 in Microeconomics for enny
Question #221274
The marginal revenue product of labor is the:
a. change in revenue resulting from adding an additional unit of labor.
b. cost of additional labor necessary to produce an additional unit of output.
c. change in output resulting from adding an additional unit of labor.
d. change in labor necessary to produce an additional unit of output.
a. change in revenue resulting from adding an additional unit of labor.
b. cost of additional labor necessary to produce an additional unit of output.
c. change in output resulting from adding an additional unit of labor.
d. change in labor necessary to produce an additional unit of output.
Expert's answer
a. change in revenue resulting from adding an additional unit of labor.
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