Marginal Product of Labour Is the Increase in Total Product

question 51

Multiple Choice

Marginal product of labour is the increase in total product that results from a

• A)one-unit increase in the quantity of labour employed, other inputs remaining the same.
• B)one-unit increase in the quantity of fixed inputs employed, holding the quantity of labour constant.
• C)one-unit increase in both the quantity of variable and fixed inputs.
• D)change in the cost of labour.
• E)1 percent change in the quantity of labour and the quantity of capital employed.

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Definitions:

Securities

Financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a government or corporation (bond), or rights to ownership as represented by an option.