Related to the Economics in Practice on page 217: According to the Economics in Practice, firms where managers had more extensive training experienced
A) increasing wage rates.
B) a decrease in the marginal product of labor.
C) increased productivity.
D) a decrease in the marginal revenue product of labor.

Question

Quizplus · Accepted Answer

The Economics in Practice states that firms where managers had more extensive training experienced increased productivity, implying that they were able to utilize labor and capital more efficiently. This suggests that the marginal product of labor would increase, leading to greater output and potentially higher wages. There is no information implying a decrease in the marginal product of labor or marginal revenue product of labor.

Related to the Economics in Practice on Page 217: According