The marginal product of labour is equal to the
A) total product divided by the total number of workers hired.
B) slope of the marginal product of labour curve.
C) increase in the total product that results from hiring one more worker with all other inputs remaining the same.
D) None of the above answers is correct.

Question

Quizplus · Accepted Answer

The marginal product of labor refers to the additional output produced as a result of hiring one more worker, assuming all other inputs remain constant. This is different from the average product (total product divided by the number of workers) or the slope of the total product curve.

The Marginal Product of Labour Is Equal to the