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Question

The marginal product of labor is equal to


A

the additional labor required to produce one more unit of output

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B

average product when average product is at a minimum

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C

the additional output produced by hiring one more unit of labor

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D

the slope of a ray drawn from the origin to a point on the total product curve

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Solution

The correct option is C

the additional output produced by hiring one more unit of labor


The marginal product of labor is equal to the additional output produced by hiring one more unit of labor.


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