The formula for the marginal revenue product of labor (L is for labor, X is the output) is

A) MP_L/P_X.
B) P_X/MP_L.
C) (MP_L) (MR_X) .
D) MP_L + P_X.

Question

The formula for the marginal revenue product of labor (L is for labor, X is the output)  isA)  MP L /P X .B)  P X /MP L .C)  (MP L ) (MR X ) .D)  MP L  + P X .

Samuel Superio · Accepted Answer

Final Answer : C, Explanation :  The marginal revenue product of labor is calculated by multiplying the marginal product of labor (MPL) by the marginal revenue of output (MR), which is represented in choice C as (MP L )(MR X ).

The formula for the marginal revenue product of labor (L is for labor, X is the output) is

A) MP_L/P_X.
B) P_X/MP_L.
C) (MP_L) (MR_X) .
D) MP_L + P_X.

Definitions

Learning Objectives

Learning Objectives

Related questions

The formula for the marginal revenue product of labor (L is for labor, X is the output) isA) MPL/PX.B) PX/MPL.C) (MPL) (MRX) .D) MPL + PX.

Definitions

Learning Objectives

Learning Objectives

Related questions

The formula for the marginal revenue product of labor (L is for labor, X is the output) is

A) MP_L/P_X.
B) P_X/MP_L.
C) (MP_L) (MR_X) .
D) MP_L + P_X.