Marginal Revenue Product of Labor for a Competitive Seller Is

question 134

Multiple Choice

Marginal revenue product of labor for a competitive seller is

• A)the change in total product from hiring one more worker.
• B)equal to the marginal product of labor multiplied by the output price.
• C)the output price multiplied by the quantity sold.
• D)the marginal revenue of the product multiplied by the output price.

---

Definitions:

Assessment Use

Involves the application of various methods and tools to measure, evaluate, or appraise a subject's performance, abilities, or characteristics.

Satisfaction Survey

A tool used to gauge the level of satisfaction or dissatisfaction of individuals with services, products, or experiences.

Counseling

A professional guidance process that helps individuals resolve personal, social, or psychological problems and difficulties.

Outcome Measure

A tool or method used to assess the effectiveness of a treatment or intervention by evaluating the results it produces.