When Labor Is the Only Input a Firm Uses, the Marginal

question 591

Multiple Choice

When labor is the only input a firm uses, the marginal cost of a unit of output can be defined as the

• A)marginal revenue multiplied by the wage.
• B)marginal product of labor multiplied by the wage.
• C)marginal product of labor divided by the wage.
• D)None of the above is correct.

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Definitions:

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