Which of the following events would lead to an increase in the marginal product of labor for every quantity of labor?
A) An increase in the real wage
B) A decrease in the real wage
C) A favorable supply shock such as a fall in the price of oil
D) An adverse supply shock, such as a reduced supply of raw materials
C
Economics
You might also like to view...
In the short run, a firm might choose to produce rather than shut down even if its market price is less than its average total cost of production
Indicate whether the statement is true or false
Economics
When a household owns shares of stock, _____
a. it has ownership rights in that firm b. it is entitled to the majority of the firm's profits c. it is liable to bear the entire loss faced by the firm d. it can consume the firm's products without paying for it e. it is responsible for correcting any defect in the product identified by the customers
Economics