Multiple Choice
Which of the following is the most accurate definition of a worker's "marginal revenue product"?
A) the change in the firm's profits as the result of hiring an additional worker
B) the change in the firm's total revenue as the result of hiring an additional worker
C) the change in the firm's output as the result of hiring an additional worker
D) the change in the firm's cost as the result of hiring an additional worker
Correct Answer:
Verified
Correct Answer:
Verified
Q109: The following figure indicates the reductions in
Q110: When the marginal revenue product of an
Q111: The change in the total revenue of
Q112: When the price of a resource goes
Q113: Table 12-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7348/.jpg" alt="Table 12-5
Q115: If unskilled labor is relatively plentiful and
Q116: In recent years, the ratio of earnings
Q117: If a firm is using a resource
Q118: The supply curve of a human resource
Q119: An increase in the demand for a