Multiple Choice
The value of marginal product is
A) the value to the firm of hiring one more unit of a factor of production.
B) the maximum marginal product of the factor of production.
C) calculated as total revenue divided by the total quantity employed.
D) calculated as marginal product divided by marginal benefit.
E) calculated as marginal product divided by the price of a unit of output .
Correct Answer:
Verified
Correct Answer:
Verified
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