Marginal Product of Labour Is Defined as the Change In

question 8

Multiple Choice

Marginal product of labour is defined as the change in:

• A) output per additional unit of input
• B) revenue per additional unit of input
• C) revenue per additional unit of output
• D) output per additional unit of revenue

---

Definitions:

Market Imperfections

Situations in which the assumptions of a perfectly competitive market are not met, leading to inefficiencies in market outcomes.

Labor Force

The total number of people employed or actively seeking employment in a given economy.

Nonpaid Labor

Work or tasks performed without financial compensation, often including household chores, caregiving, and volunteer work.

Empower

To give individuals or groups the authority or power to do something, enabling them to take initiative and make decisions.