The Marginal Product of Labour Is The

question 293

Multiple Choice

The marginal product of labour is the:

• A) change in labour divided by the change in total product.
• B) slope of the total product of the labour curve.
• C) change in the average product divided by the change in the quantity of labour.
• D) change in output that occurs when capital increases by one unit.

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Definitions:

Constitutional Convention

A formal meeting called for the purpose of creating or revising a constitution.

Slavery

A system in which individuals are owned by others, deprived of personal freedom, and compelled to perform labor or services.

Equality

The condition in which individuals have the same status, rights, and chances in life.

Great Compromise

An agreement reached during the Constitutional Convention of 1787 that established a two-house legislature with proportional representation in the lower house and equal representation of the states in the upper house.