Marginal Revenue Product of Labour for a Competitive Seller Is

question 114

Multiple Choice

Marginal revenue product of labour for a competitive seller is

• A) the change in total product from hiring one more worker.
• B) equal to the marginal product of labour multiplied by the output price.
• C) the output price multiplied by the quantity sold.
• D) the marginal revenue of the product multiplied by the output price.

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Definitions:

Argument

A set of statements or reasons put forth to support a conclusion, often in the context of logic, debate, or philosophy.

Maximum Number

The highest value obtainable or permitted within a given set of numbers or constraints.

Paragraph

A distinct section of writing that deals with a particular idea, typically starting on a new line and consisting of one or more sentences.

Argument

A coherent series of statements leading from a premise to a conclusion, used in logical reasoning or debate.