Business
Business, 30.11.2019 05:31, mtassy85

The dollar value of the marginal product of labor is the: a. amount of output produced by the first unit of labor hired by a firm. b.extra output that is produced by hiring an additional unit of labor. c.value of the output produced by all the workers in a firm. d.contribution of an additional unit of labor to a firm's revenue.

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Business, 27.09.2019 16:30, Anshuman2002
The marginal product of labor is defined as a. the additional labor required to produce one more unit of output. b. the change in total revenue that results when an additional unit of a labor is hired. c. the change in output that a firm produces as a result of hiring one more worker. d. the additional labor cost of producing one more unit of output.
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Business, 24.10.2019 03:00, julietmusyoki5
Aprofit-maximizing firm will hire the variable input, labor, until the point where: group of answer choices marginal product of labor is equal to the marginal revenue product of capital. marginal revenue from each unit of output is equal to the wage rate. marginal revenue product of labor is equal to the marginal cost of labor. marginal revenue product of labor is equal to zero. marginal product of labor equals the marginal revenue from each unit of output.
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