Assume That Labor Is the Only Variable Input and That

question 114

Multiple Choice

Assume that labor is the only variable input and that the payment made to labor is denoted as W. The ________ can be stated as W/MC.

• A) marginal revenue product of labor
• B) marginal product of labor
• C) total cost of labor
• D) total revenue from labor

---

Definitions:

Job-refusal Messages

Communications sent to decline a job offer, typically aiming to maintain goodwill and professionalism with the potential employer.

Job-acceptance Messages

Communications expressing agreement and readiness to start work upon being offered a job.

Follow-up Messages

Communications sent to maintain contact or provide additional information after an initial meeting or conversation.

Thank-you Messages

Written or verbal expressions of gratitude towards someone for their assistance, kindness, or service.