Given That W Is the Wage Rate and MP_L is

question 17

Multiple Choice

Given that w is the wage rate and MP_L is the marginal product of labor (the only variable input) ,w/MP_L shows:

• A)the extra output obtained from hiring one more worker.
• B)the marginal cost of producing one more unit of output.
• C)the average variable cost of hiring one more unit of labor.
• D)the marginal product from hiring one more unit of labor.

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