Asked by
Tiara James
on Oct 12, 2024Verified
More complementary resources would tend to
A) raise the productivity and the marginal revenue product of labor.
B) lower the productivity and the marginal revenue product of labor.
C) raise the productivity of labor but lower its marginal revenue product.
D) lower the productivity of labor but raise its marginal revenue product.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a factor of production, such as labor.
Productivity
Productivity measures the efficiency of production in terms of the amount of goods and services produced from a given amount of inputs, such as labor and capital, within a specific period.
- Associate labor productivity with both motivational elements and supplementary factors.
- Evaluate the effect of output efficiency and the cost of finished products on the need for resources.
Verified Answer
RK
Learning Objectives
- Associate labor productivity with both motivational elements and supplementary factors.
- Evaluate the effect of output efficiency and the cost of finished products on the need for resources.