The Value of Marginal Product of Labor Is the Change

question 62

Multiple Choice

The value of marginal product of labor is the change in

• A) profit from hiring one more worker.
• B) output from hiring one more worker.
• C) total revenue from hiring one more worker.
• D) profit from producing one more unit of output.

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Definitions:

Glider

A type of aircraft that is designed to fly without the use of engines, relying on dynamic lift from air currents to stay aloft.

Fruit

The ripened ovary, along with its seeds, of a flowering plant, usually eaten as food.

Grape

A small, round fruit, usually purple, green, or red, grown in clusters on vines, used for eating fresh or making wine.

Heuristics

Heuristics are mental shortcuts or rules of thumb that simplify decision making, often at the cost of accuracy or completeness.