Marginal Product of Labour Is the Increase in Total Product

question 126

Multiple Choice

Marginal product of labour is the increase in total product that results from a

• A)one-unit increase in the quantity of labour employed,other inputs remaining the same.
• B)one-unit increase in the quantity of fixed inputs employed,holding the quantity of labour constant.
• C)$1 increase in the cost of labour.
• D)change in the total cost of labour.
• E)one-unit increase in the minimum efficient scale.

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Definitions:

Distinctive Shades

Unique or characteristic colors applied to products or brands to distinguish them from others in the marketplace.

Electronic Surveillance

Monitoring of behavior, activities, or information for the purpose of information gathering, often without the knowledge of the individuals being monitored.

Unfair Competition

Dishonest or fraudulent rivalry in trade and commerce that results in economic harm to businesses or consumers.

Trade Secret

A confidential business information which provides a competitive edge and is protected from disclosure.