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Which of the following could lead to an increase in the marginal revenue product (MRP) of labor? O All of the answers given would lead to an increase in the MRP of labor. O An increase in the price of the final good that is produced by the workers. An increase in the amount of output produced by each worker. O A decrease in the price of machinery that is used with the workers to produce the final good (i.e., machinery and labor are complem- factors). O None of the answers given would lead to an increase in the MRP of labor.

Which of the following could lead to an increase in the marginal revenue product (MRP) of labor? O All of the answers given would lead to an increase in the MRP of labor. O An increase in the price of the final good that is produced by the workers. An increase in the amount of output produced by each worker. O A decrease in the price of machinery that is used with the workers to produce the final good (i.e., machinery and labor are complem- factors). O None of the answers given would lead to an increase in the MRP of labor.

Principles of Microeconomics
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter18: The Markets For The Factor Of Production
Section: Chapter Questions
Problem 2CQQ
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Which of the following could lead to an increase in the marginal revenue product (MRP) of labor? O All of the answers given would lead to an increase in the MRP of labor. O An increase in the price of the final good that is produced by the workers. An increase in the amount of output produced by each worker. O A decrease in the price of machinery that is used with the workers to produce the final good (i.e., machinery and labor are complement factors). O None of the answers given would lead to an increase in the MRP of labor.
Transcribed Image Text:Which of the following could lead to an increase in the marginal revenue product (MRP) of labor? O All of the answers given would lead to an increase in the MRP of labor. O An increase in the price of the final good that is produced by the workers. An increase in the amount of output produced by each worker. O A decrease in the price of machinery that is used with the workers to produce the final good (i.e., machinery and labor are complement factors). O None of the answers given would lead to an increase in the MRP of labor.
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