When a firm's only variable input is labor, then the slope of the production function measures the
A)quantity of labor.
B)quantity of output.
C)total cost.
D)marginal product of labor.

Question

Quizplus · Accepted Answer

The slope of the production function with only labor as a variable input measures the marginal product of labor. This is because the slope represents the change in output per unit change in labor, which is the definition of marginal product.

When a Firm's Only Variable Input Is Labor, Then the Slope