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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #754065
Introduction to Economics 1 Deneme Sınavı Sorusu #754065
Which of the following can be described as the additional output produced when a small amount of additional labor is employed with all other inputs remaining the same?
Marginal product of labor |
Average product of labor |
Total product of labor |
Law of diminishing returns |
Increasing marginal returns |
Yanıt Açıklaması:
Marginal Product of Labor (MPL) is the additional output produced when a small amount of additional labor is employed with all other inputs remaining the same. More formally, it is the ratio of change in total product to the change in the amount of labor used (MPL = ΔTP / ΔL = ΔQ / ΔL). The correct answer is A.
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