If the Marginal Product of Labor Increases Because of a Shift

question 51

Multiple Choice

If the marginal product of labor increases because of a shift of the MP curve, that will likely cause

• A)an increase in the price of output produced by labor
• B)an increase in labor demand
• C)an increase in labor supply
• D)a fall in the wage paid to labor
• E)a fall in the number of workers employed

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Definitions:

Obligation Performance

The duty or requirement to fulfill the terms of a contract or agreement.

Federal Fisheries Department

A government body responsible for the management and protection of the country's fisheries resources, including regulation, conservation, and development.

Breach of Contract

A violation of any of the agreed-upon terms and conditions of a binding contract.

Supply Requirements

The specifications and quantities of goods or services needed by a business, organization, or project, often detailed in procurement contracts.