Multiple Choice
Which of the following statements is TRUE?
A) The value of the marginal product of labor equals the marginal product of labor times price.
B) The value of the marginal product of labor equals a one-unit change in a factor divided by the change in total revenue.
C) Marginal cost equals change in total revenue divided by the one-unit change in a factor.
D) The value of the marginal product of labor equals the change in the quantity of a factor times the price of the factor.
Correct Answer:
Verified
Correct Answer:
Verified
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