Multiple Choice
The change in total output when one more unit of a resource is employed is called
A) total revenue
B) marginal revenue product
C) marginal physical product
D) quantity supplied
E) wage rate
Correct Answer:
Verified
Correct Answer:
Verified
Q144: Given free mobility of people, wage differentials
Q145: The law of diminishing returns means that<br>A)
Q146: An upward-sloping supply curve of labor reflects
Q147: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10702/.jpg" alt=" -In Exhibit O-1,
Q148: Because people are more health conscious today
Q150: The marginal physical product of labor increases
Q151: The usual shape for a labor supply
Q152: Wage rate differentials between nations are likely
Q153: A violation of the W = MRP
Q154: The marginal revenue product is<br>A) TR/P<br>B) w/Q<br>C)