Multiple Choice
Suppose an increase in the demand for labor results in an increase of $4 per hour in the equilibrium wage. How does the increase in the demand for labor affect the value of the marginal product of labor (VMPL) ?
A) The VMPL increases by less than $4.
B) The VMPL increases by $4.
C) The VMPL increases by more than $4.
D) The VMPL decreases by $4.
Correct Answer:
Verified
Correct Answer:
Verified
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