A Reason for an Increase in Labor Productivity Growth Is

question 69

Multiple Choice

A reason for an increase in labor productivity growth is

• A)an increase in people's human capital.
• B)an increase in the population so that firms hire more workers.
• C)an increase in the quantity of labor.
• D)growth in the supply of labor.
• E)a decrease in the capital stock so that firms must hire more workers.

---

Definitions:

MR

Marginal Revenue, the change in total revenue that results from selling one additional unit of a product or service.

MC

The additional cost of producing one more unit of a product or service, known as marginal cost.

Substitute Brands

Brands that offer products or services which consumers may use in place of each other based on preference, price, or availability.

Increase Profits

Strategies or actions taken by a business to boost its earnings above its expenses.