The Marginal Product of Labor Is Defined to Be

question 33

Multiple Choice

The marginal product of labor is defined to be

• A) the additional output attributable to the last unit of labor employed.
• B) the amount of output obtained,on average,from each unit of labor employed.
• C) the percentage increase in output caused by a 1% rise in labor usage.
• D) the amount of capital that the firm can use to replace one unit of labor.

---

Definitions:

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society, advocating for respect and understanding.

Reverence

A feeling or attitude of profound respect and admiration, typically mixed with awe or fear, often directed towards someone or something considered superior.

Internet Technology

The assortment of technologies and protocols that enable the functioning of the internet, including communication infrastructures, software, and hardware.

Multinational Marketing Strategies

Approaches used by companies operating in multiple countries to adapt their marketing tactics to different cultural, economic, and legal environments.