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

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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