The marginal product of labor is defined as

A) the change in output that a firm produces as a result of hiring one more worker.
B) the additional labor cost of producing one more unit of output.
C) the change in total revenue that results when an additional unit of a labor is hired.
D) the additional labor required to produce one more unit of output.


A

Economics

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The above figure shows a housing market with a rent ceiling equal to $1,000. In this figure, after taking account of the resources lost in search, what area is equal to the consumer surplus?

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Based on the figure above, as a result of international trade, consumer surplus

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Economics

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Economics