Marginal revenue product (MRP) of labor refers to the

A) amount by which a firm's total resource cost increases when it employs one more unit of labor.
B) increase in total revenue resulting from the hire of one more unit of labor.
C) price at which additional units of labor can be employed in a monopsonized labor market.
D) increase in total revenue resulting from the sale of an additional unit of output.

Question

08-06-2024
Business

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Marginal revenue product (MRP) of labor refers to the

A) amount by which a firm's total resource cost increases when it employs one more unit of labor.
B) increase in total revenue resulting from the hire of one more unit of labor.
C) price at which additional units of labor can be employed in a monopsonized labor market.
D) increase in total revenue resulting from the sale of an additional unit of output.

Sagot :

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