The Marginal Product of Labor Is Defined as

question 64

Multiple Choice

The marginal product of labor is defined as

• A)the change in total revenue that results when an additional unit of a labor is hired.
• B)the additional labor required to produce one more unit of output.
• C)the additional labor cost of producing one more unit of output.
• D)the change in output that a firm produces as a result of hiring one more worker.

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Definitions:

Choiceboards

Interactive, online systems that allow individual customers to design their own products by choosing from a variety of features, components, and services.

Individuality

The quality or character that distinguishes one person or thing from others; uniqueness or distinctiveness.

Interactivity

The feature of a system that allows for two-way communication or interaction, often used in digital contexts.

Choiceboard

A choiceboard is an interactive online system that allows consumers to customize products or services according to their preferences before making a purchase.