What Is the Marginal Product of Labour

question 64

Multiple Choice

What is the marginal product of labour?

• A)The payment made to workers for their contribution to the output they produce.
• B)Equal to the demand for labour.
• C)The change in a firm's revenue as a result of hiring one more worker.
• D)The additional output a firm produces as a result of hiring one more worker.

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Definitions:

Mosquito Control

A management strategy to regulate or eliminate mosquito populations to reduce their damage to human health, economies, and enjoyment.

Marginal Benefit

The additional benefit gained from consuming or producing one extra unit of a good or service.

Optimal Number

The most favorable quantity that achieves the best outcome under specific conditions.

Individual Marginal Benefit

The additional benefit received by an individual from consuming one more unit of a good or service.