Multiple Choice
The additional output obtained by adding another unit of labor to the production process is called
A) the marginal cost of labor
B) the average output of labor
C) a variable cost
D) the marginal product of labor
E) the marginal utility of labor
Correct Answer:

Verified
Correct Answer:
Verified
Q79: The law of diminishing marginal returns states
Q80: Which economic concept explains why a large
Q81: Empirical studies of production suggest that the
Q82: Exhibit 7-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 7-5
Q83: When marginal product is decreasing, marginal cost
Q85: Exhibit 7-14 Total Cost Curve <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg"
Q86: Exhibit 7-8 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 7-8
Q87: If all my savings are invested in
Q88: Suppose Ernie gives up his job as
Q89: Exhibit 7-14 Total Cost Curve <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg"