The marginal product of labor is
A) total product divided by labor.
B) the change in total product divided by the increase in labor.
C) a measure of labor.
D) output that does not meet quality specifications.
E) total product minus the quantity of labor.
B
Economics
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When demand is unit elastic, a 7 percent change in the price of the good
A) will cause a change in quantity demanded of less than 7 percent. B) will cause a change in quantity demanded equal to 7 percent. C) will cause a change in quantity demanded greater than 7 percent. D) will not cause any change in quantity demanded.
Economics
Which nation achieved the ideal communist society as described by Marx?
A. Castro's Cuba B. Mao's China C. Stalin's Soviet Union D. No nation has achieved Marx's vision of communist society.
Economics