Because firms in a competitive market hire workers up to the point where the marginal product of labor equals the wage, the marginal cost of labor also equals the marginal product of labor. **1. Perfectly Competitive Labor Market:** In a perfectly competitive labor market, firms are wage ...
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Marginal Product of Labor 劳动者的边际产出 Marginal Product of Capital 资本的边际产出 Marginal cost是指厂商每增加一单位产量所增加的成本,或消费者每增加一单位消费品所增加的支出;Marginal benefit是指厂商每增加一单位产量所增加的收入,有时也用marginal revenue表示,或消费者每增...
Marginal Cost:A New Explanation of Labor Force Supply Curve边际成本:劳动力供给曲线的重新解释劳动劳动力劳动力供给曲线边际成本边际效用理论边际成本理论In the current theories of labor economics,researchers attempt to use marginal utility theory to deduce the labor force supply curve. In this article,...
百度试题 结果1 题目When the marginal product of labor falls, the marginal cost of output( ) A. falls, then rises. B. becomes negative. C. rises. D. remains constant. 相关知识点: 试题来源: 解析 C 反馈 收藏
Marginal Product of Labor | Formula & Examples from Chapter 3/ Lesson 49 122K Understand the meaning of marginal product of labor. Learn the marginal product of labor (MPL) formula, its significance, and how to calculate MPL with examples. ...
Marginal product of labor is defined as the change in the level of output when a new employee is hired, given that all else remains constant. Hiring an additional person is a large cost, and businesses should be sure that the additional unit of labor will result in significant productivity ...
marginalproductoflabor(MPL)=wage.(c)marginalrevenueproductoflabor(MRPL)=wage.(d)marginalrevenueproductoflabor(MRPL)=theproduct'sprice.3.Marginalproductoflabor(MPL)multipliedbytheproduct'sprice(P)equals(a)marginalrevenueproductoflabor.(b)marginalphysicalproductoflabor.(c)marginalrevenue.(d)marginalcost....
The marginal product of labor is the change inA.total cost from employing one more worker.B.total revenue from employing one more worker.C.average product from employing one more worker.D.total output from employing one more worker.E.total output divided
on whether the additional output generated by the new worker i.e. MPL is higher than the cost of the worker. If firms have enough demand for their goods, they continue hiring new workers as long as the revenue they generate i.e. their marginal product of labor is higher than their ...