The Marginal Product of Labor Is

question 75

Multiple Choice

The Marginal Product of Labor is

• A) the change in total product resulting from an extra unit of labor, holding other factors constant.
• B) the ratio of output to the number of workers used to produce that output.
• C) the amount of output that can be produced by a given amount of labor.
• D) equal to the marginal product of labor when the average product is increasing.

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Definitions:

Strategic

Pertaining to the identification of long-term or overall aims and interests and the means of achieving them, often used in the context of business planning and military operations.

National Labor Relations Act

Enacted in 1935, this foundational US labor law protects the rights of workers to organize into trade unions, engage in collective bargaining, and take collective action such as strikes.

Voluntarily Begin Negotiations

The process where parties decide to start discussions and bargaining without being compelled by law or external pressures.

Decertification

The process by which a labor union is removed as the bargaining representative of a group of employees, typically through a vote among the employees.