What is the marginal product of labor?
A) the average output of a unit of labor
B) the extra output obtained by using one more unit of labor
C) the average output obtained by using one more unit of labor
D) the total output obtained by using one more unit of labor
Correct Answer:
Verified
Q29: Assume the MPLt = 5 tennis rackets
Q30: Production possibilities frontiers in the Ricardian model:
A)
Q31: (Figure: Home Production and Consumption) The figure
Q32: Ricardo's theory showed that if nations are
Q33: With the assumption that the marginal product
Q35: Assume the MPLc = 2 cars and
Q36: As a consumer moves down one of
Q37: When the production possibilities frontier is a
Q38: The Ricardian model can be simplified and
Q39: The slope of the PPF can be
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents