The Marginal Revenue Product of Labour Is the Change in the Value

question 45

Multiple Choice

The marginal revenue product of labour is the change in the value of the firm's output resulting from

• A) an increase in the marginal physical product of labour.
• B) a change in the wage rate paid to labour.
• C) hiring one more unit of labour input.
• D) producing one more unit of output.
• E) a change in the product's price.

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Definitions:

Temporarily Stores

A method or location for holding data or information for a short period of time in a computer or other device, often used to enhance performance or manage resources efficiently.

Supercomputers

Extremely powerful computers with high computational capacity, used for advanced scientific calculations, weather modeling, and complex simulations.

Mainframe Computers

Large, powerful computers used primarily by large organizations for critical applications, bulk data processing, and enterprise resource planning.

Wearable Computers

Electronic devices designed to be worn on the body, such as smartwatches and fitness trackers, offering various functionalities.