The marginal product of labor is equal to the Question 8 options: incremental cost associated with a one unit increase in labor. incremental profit associated with a one unit increase in labor. increase in labor necessary to generate a one unit increase in output. increase in output obtained from a one unit increase in labor.

Question

Business

Payton Francis

2 January, 16:12

The marginal product of labor is equal to the Question 8 options: incremental cost associated with a one unit increase in labor. incremental profit associated with a one unit increase in labor. increase in labor necessary to generate a one unit increase in output. increase in output obtained from a one unit increase in labor.

+4

Answers (1)

Know the Answer?

Estrella Leach · Answer 1

increase in output obtained from a one unit increase in labor.

Explanation:

The marginal product of labor (MPL) is defined as the increase in total output produced by the addition of one extra unit of labor. The additional unit of labor refers to an additional employee, and the effect can be measured if all the other factors are constant.

The MPL is not constant, it usually increases at first, but then it starts to decrease as more employees are hired and capital resources must be shared between them.