The marginal product of labour is defined by the: a

Economics Jun 06, 2021

The marginal product of labour is defined by the: a. output divided by the labour input usage b. change in labour input usage divided by the change in output c. output divided by the marginal product of labour d. labour input usage divided by the output level e. change in output divided by the change in labour input usage

Expert Solution

Answer

e .

Explanation

Marginal product of labor is the change in total product with change in labor unit. Marginal Product of Labor is additional output a firm produces as a result of hiring one more worker.

Marginal Product of Labor = Change in Quantity of Output Produced/Change in the Firm's Use of the Input
So, the correct option is E "Change in Output divided by the Change in Labor Input Usage".

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