Which of the Following Is the Correct Formula for Calculating

question 22

Multiple Choice

Which of the following is the correct formula for calculating the marginal revenue product of labor?

• A) The change in total output divided by the change in the quantity of labor.
• B) The change in the quantity of labor divided by the change in total revenue.
• C) The change in total revenue divided by the change in the quantity of labor.
• D) The percentage change in total revenue divided by the percentage change in the quantity of labor.

---

Definitions:

Sample Size

The number of observations or individuals taken from a population for the purpose of statistical analysis.

Sample Proportion

The sample proportion is a statistic that estimates the proportion of elements in a sample that have a particular attribute, characteristic, or outcome.

Acceptable Error

The margin of error or deviation from a standard value that is deemed tolerable within specific contexts, such as measurements or quality control.

Confidence

A measure of the degree to which one is certain about a particular prediction or outcome.