Which of the following is true regarding the marginal product of labor? a. It declines as more capital is used. b. It rises as the product price falls. c. It rises as more labor is used. d. It declines as more labor is used.

Question:

Which of the following is true regarding the marginal product of labor?

a. It declines as more capital is used.

b. It rises as the product price falls.

c. It rises as more labor is used.

d. It declines as more labor is used.

Marginal Product of Labor:

The marginal product of labor is defined as the addition to the total product when the employment of labor is increased by one unit. It is the increment in the total product with the employment of more units of labor.

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Marginal Product of Labor: Definition, Formula & Example

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Chapter 3 / Lesson 49

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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.

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Which of the following is true regarding the marginal product of labor? a. It declines as more...

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Marginal Product of Labor:

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