The Value of Marginal Product of Labor Curve

question 93

Multiple Choice

The value of marginal product of labor curve

• A) is upward sloping because firms want to hire more workers to increase production.
• B) shows the price of a factor of production multiplied by the amount of the factor employed.
• C) is the same as a firm's supply of labor curve.
• D) is downward sloping if each additional worker's marginal product is decreasing.
• E) is U-shaped.

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Definitions:

Personal Disposition

An individual's inherent qualities of mind and character that influence their behavior and reactions.

Pervasive

An adjective describing something that spreads widely throughout an area or a group of people, affecting every part of it.

Motives

Internal drives or reasons that trigger and direct human behavior towards specific goals.

Ego

The ego is one of the three components of the personality in Freud's psychoanalytic theory, acting as the mediator between the id's desires, the superego's moral standards, and reality.