The Marginal Product of Labor Is

question 208

Multiple Choice

The marginal product of labor is:

• A) the additional output produced by an extra worker.
• B) the increase in costs borne by the firm when one extra worker is hired.
• C) always greater than the wage earned by one additional worker.
• D) the increase in firm revenue when an additional worker is employed.

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Definitions:

Excessive Gratification

The overindulgence in activities or substances that provide pleasure, potentially leading to negative consequences or dependency.

Phallic

Pertains to the third stage in Freud's psychosexual development theory where the child's libido (sexual energy) is focused on the genital area.

Psychosexual Development

A Freudian theory highlighting the series of childhood stages where the libido (sexual energy) focuses on distinct erogenous zones.

Oral

Pertaining to the mouth; often used to describe the first psychosexual stage in Freudian psychology where the mouth is the primary source of pleasure.