Asked by
Travis Benitez
on Nov 16, 2024
Verified
The value of the marginal product of capital can be calculated as the market price of the good multiplied by the marginal product of capital.
Marginal Product
The additional output that is produced by employing one more unit of a particular input, holding other inputs constant.
Market Price
The current price at which an asset or service can be bought or sold.
- Determine and explain the worth of the marginal product of labor.
Verified Answer
LR
Learning Objectives
- Determine and explain the worth of the marginal product of labor.