The Value of the Marginal Product of Labor Is Equal

question 453

Multiple Choice

The value of the marginal product of labor is equal to the change in

• A)marginal cost caused by the addition of the last worker.
• B)total cost caused by the addition of the last worker.
• C)total revenue caused by the addition of the last worker.
• D)total profit caused by the addition of the last worker.

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Definitions:

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A prearranged timetable for when lunch breaks occur within an organization, school, or institution.

Vroom, Yetton, Jago DECISION-MAKING Model

A situational leadership model that outlines how leaders can make effective decisions by evaluating the importance of the decision, the necessity of quality, and the acceptance of others.

Authority Decisions

relate to choices or judgments made by individuals or bodies holding power or command within an organization.

Manager

An individual responsible for directing, controlling, and administering an organization or group, overseeing tasks, and making decisions.