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Question
Macroeconomics
Posted 2 months ago

What is the marginal revenue product of labor (MRPL)\left(M R P_{L}\right) ?
Choose 1 answer:
(A) the additional revenue a firm earns if it uses one more unit of labor.

B The additional revenue a firm earns divided by the quantity produced
(c) the additional cost of using one more unit of labor.
(D) The additional revenue a firm earns from selling one more unit of output
(E) The amount of capital needed to balance out labor.
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Answer from Sia
Posted 2 months ago
Solution
a
Definition of Marginal Revenue Product of Labor (MRPL): MRPL is the additional revenue a firm earns by employing one more unit of labor
Answer
(A) the additional revenue a firm earns if it uses one more unit of labor.
Key Concept
Marginal Revenue Product of Labor (MRPL)
Explanation
MRPL represents the extra revenue generated from the use of an additional unit of labor, holding other factors constant. It is a measure of the value added by the last worker hired.

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