Author Question: The marginal product of labor is the a. cost of one worker b. average output per worker c. change ... (Read 168 times)

eruditmonkey@yahoo.com · **on:** Jun 30, 2018

The marginal product of labor is the
a. cost of one worker
b. average output per worker
c. change in revenue from selling one more unit of output
d. change in revenue from using one more unit of labor
e. change in output from using one more unit of labor

Question 2

Which of the following is true of marginal product?
a. The firm should produce where marginal product is greatest.
b. The firm should produce where marginal product is increasing.
c. When marginal product is falling, total product is falling.
d. The firm should produce where marginal product is zero.
e. When marginal product is increasing, total product is increasing by increasing amounts.