The marginal revenue product of labor is
A) the marginal physical product multiplied by marginal revenue.
B) the marginal revenue of output multiplied by the price of the input.
C) total sales divided by total labor employed.
D) total labor employed divided by total sales.
A
Economics
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The national debt is the amount
A) by which government outlays exceed tax revenue in a given year. B) by which government tax revenue exceed outlays in a given year. C) of government outlays summed over time. D) of debt outstanding that arises from past budget deficits. E) of all future entitlement spending.
Economics
If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the labor force is
A) 1000. B) 1100. C) 1400. D) 1500.
Economics