The Marginal Product of Labor Can Be Defined as the Change

question 575

Multiple Choice

The marginal product of labor can be defined as the change in

• A)profit divided by the change in labor.
• B)output divided by the change in labor.
• C)labor divided by the change in output.
• D)labor divided by the change in total cost.

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Definitions:

Total Fertility Rate

The average number of children that would be born to a woman over her lifetime, given current birth rates.

Per Capita Consumption

The average consumption of a good or service per individual within a population.

Water

A transparent, tasteless, odorless, and nearly colorless chemical substance, which is the main constituent of Earth's streams, lakes, and oceans and the fluids of most living organisms.

Energy

The capacity to do work, which comes in various forms such as kinetic, potential, thermal, electrical, chemical, nuclear, and others, and can be transformed from one form to another.