The Marginal Product of Labor Is the Increase in Output

question 194

True/False

The marginal product of labor is the increase in output as a result of hiring an additional worker while the marginal revenue product of labor is the increase in profit as a result of hiring an additional worker.

---

Definitions:

Work Engagement

A positive, fulfilling, work-related state of mind characterized by vigor, dedication, and absorption.

Vigour

Physical strength, energy, or intensity in action or expression.

Dedication

A strong commitment to a task, activity, or cause, often involving a significant investment of time and effort.

Wavelengths

The distance between successive crests of a wave, typically used in the context of electromagnetic waves, sound waves, or other types of waves in physics.