The marginal product of labor is defined as

A. the additional labor required to produce one more unit of output.

B. the change in total revenue that results when an additional unit of a labor is hired.

C. the change in output that a firm produces as a result of hiring one more worker.

D. the additional labor cost of producing one more unit of output.

Question

Business

Jorge Carr

16 November, 19:24

The marginal product of labor is defined as

A. the additional labor required to produce one more unit of output.

B. the change in total revenue that results when an additional unit of a labor is hired.

C. the change in output that a firm produces as a result of hiring one more worker.

D. the additional labor cost of producing one more unit of output.

+3

Answers (1)

Know the Answer?

Jordon David · Answer 1

The correct answer is C. the change in output that a firm produces as a result of hiring one more worker.

Explanation:

The marginal productivity is the variation that the production of a good experiences when increasing a unit of a productive factor of the same, remaining the rest constant.

It is an economic index that is used to express and measure changes in the result of a productive process once the variables that affect it change. That is, the productive factors. This measure expresses the variations and intensity of these in the face of changes in productive elements, thus deciphering the importance of each one of them for the total calculation.