Which of the Following Describes a Difference Between the Marginal

question 228

Multiple Choice

Which of the following describes a difference between the marginal product of labour and the marginal revenue product of labour?

• A) The marginal product of labour declines as each additional worker is hired because of the law of diminishing returns. The marginal revenue product of labour declines as each additional worker is hired because of diseconomies of scale.
• B) The marginal product of labour declines as each additional worker is hired because of the law of diminishing returns. The marginal revenue product increases as each additional worker is hired because of increases in the productivity of labour.
• C) The marginal product of labour is inelastic. The marginal revenue product of labour is elastic.
• D) The marginal product of labour measures the change in output as additional workers are hired. The marginal revenue product measures the change in revenue as additional workers are hired.

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Definitions:

Response Uncertainty

The inability to predict the outcomes of decisions or actions due to unpredictable external factors or incomplete information.

Environmental Uncertainty

The lack of predictability in the surrounding environment that impacts an organization's decision-making capabilities.

Response Uncertainty

The unpredictability about how a decision or action will be received or what outcomes it will produce.

Course Match

The process of aligning one's academic or professional learning path with their interests, goals, or the requirements of a particular field.