The Profit-Maximizing Quantity of Labour Equates the Marginal Product of Labour

question 58

Multiple Choice

The profit-maximizing quantity of labour equates the marginal product of labour with

• A)the average product of labour.
• B)total factor productivity.
• C)the slope of the production function.
• D)the marginal product of capital.
• E)the real wage.

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Definitions:

Adaptive Behaviour

Actions and skills that allow an individual to meet standards of personal independence and social responsibility appropriate for their age and cultural group.

Intellectual Disability

A disability characterized by significant limitations in both intellectual functioning (reasoning, learning, problem solving) and in adaptive behavior, which covers a range of everyday social and practical skills.

Subaverage Intellectual Functioning

Below average intellectual capability as demonstrated by an IQ typically under 70, and associated with difficulties in adaptive functioning.

Dominant Inheritance

A pattern of inheritance in genetics where an allele is expressed in the phenotype, even in the presence of a different allele.