An Increase in the Value of the Marginal Product of Labor

question 221

Multiple Choice

An increase in the value of the marginal product of labor has the effect of increasing the

• A)demand for labor.
• B)wage.
• C)quantity of labor employed.
• D)All of the above are correct.

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Definitions:

Desired Performance

Desired Performance specifies the level of competence or results that an organization, team, or individual aims to achieve.

Intellectual Capital

The intangible value of a business, covering its people (human capital), the value relating to its relationships (relational capital), and everything that is left when the workers go home (structural capital), which includes the proprietary knowledge.

Collective Brainpower

The combined intelligence, creativity, and problem-solving abilities of a group or team.

Workforce

The collective group of employees working in an organization or sector, encompassing various roles, skills, and backgrounds.