The additional revenue obtained by a firm when it hires an additional worker, holding other inputs constant, is
A) the marginal physical product of labor.
B) the marginal revenue product of labor.
C) the marginal cost of labor.
D) equal to total revenue divided by the number of workers.
Answer: B
Economics
You might also like to view...
Deciding if a power company will generate electricity from wind power or coal answers the economic question of
A) what products will be produced. B) where will the products be consumed. C) who consumes the products produced. D) how will the products be produced.
Economics
A firm's utility bill is a variable cost. If the cost of utilities increases, then in the figure above ________ upward
A) only curve A shifts B) only curve B shifts C) only curve C shifts D) both curves A and C shift E) both curves B and C shift
Economics