To determine the marginal physical product of labor, you must
a. hold total output constant and calculate how much revenue an additional worker generates
b. hold capital constant and calculate how much revenue an additional worker generates hold capital constant
c. hold all other factors of production constant and calculate how much output an additional worker produces
d. hold labor constant and calculate how much output an additional worker produces
e. hold labor constant and calculate how much revenue an additional worker generates
C
You might also like to view...
If total consumer expenditures (in dollars) for bus transportation were to increase when the price of bus transportation was raised, the demand for bus transportation probably
A) had decreased. B) had increased. C) violated the law of demand. D) was elastic. E) was inelastic.
As the price level increases, the amount of goods and services that consumers, businesses, and governments desire to purchase will change. This is depicted by: a. a leftward movement of the aggregate demand curve
b. a rightward movement of the aggregate demand curve. c. an upward movement along the aggregate demand curve. d. a downward movement along the aggregate demand curve. e. an increase in the slope of the aggregate demand curve.