The value of the marginal product of labor is equal to the change in
A)marginal cost caused by the addition of the last worker.
B)total cost caused by the addition of the last worker.
C)total revenue caused by the addition of the last worker.
D)total profit caused by the addition of the last worker.

Question

Quizplus · Accepted Answer

The value of the marginal product of labor is the additional revenue generated from employing one more unit of labor, which is the change in total revenue caused by the addition of the last worker.

The Value of the Marginal Product of Labor Is Equal