The marginal product of labor is defined as A. the additional sales revenue that results when one more worker is hired. B. the cost of hiring one more worker. C. the additional number of workers required to produce one more unit of output. D. the additional output that results when one more worker is hired, holding all other resources constant.

Question

31-03-2020
Business

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The marginal product of labor is defined as A. the additional sales revenue that results when one more worker is hired. B. the cost of hiring one more worker. C. the additional number of workers required to produce one more unit of output. D. the additional output that results when one more worker is hired, holding all other resources constant.

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ranijoshijj97 ranijoshijj97 · Answer 1 · 2020-04-04T14:31:23+02:00

Answer:

The correct answer is A

Explanation:

Marginal product is the term which is defined as the change in the output which results from employing a unit of the specific input.

For example, The change in the output of labor when the labor increase from four to five.

So, MPL (Marginal Product of Labor), is defined or described as the change or variation in output consequence from employing an additional or extra unit of labor.

Therefore, the MPL is the additional or change in sales revenue which results from one more pr additional worker or labor is hired.