The Value of a Worker's Marginal Product ________

question 48

Multiple Choice

The value of a worker's marginal product ________.

• A) is the additional revenue that the worker brings in to a firm
• B) is always equal to the maximum price at which the product produced by the worker can be sold in a market
• C) is the increment in the total cost of a firm when the worker is hired
• D) equals the average product of a firm that hires the worker divided by the marginal product of the worker

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Definitions:

Simplex Method

An algorithm for solving linear programming problems of all sizes.

Corner-Point Method

A method for solving graphical linear programming problems.

Mathematical Expression

A combination of numbers, operations symbols, and sometimes variables that represents a mathematical relationship, action, or procedure.

Linear Programming

A mathematical modeling technique used to achieve the best outcome in a given mathematical model for some list of requirements represented as linear relationships.