Question

The marginal physical product of labor is Group of answer choices the slope of the total output curve at the relevant point. the negative of the slope of the total output curve at the relevant point. the slope of the line connecting the origin with the relevant point on the total output curve. the negative of the slope of the line connecting the origin with the relevant point on the total output curve.

Answer 1

Answer:

The slope of the total output curve at the relevant point.

Explanation:

A marginal physical product can be defined as the extra output which is being generated by using an extra input. This ultimately implies that, marginal physical product of labor refers to the change in the level of output that is generated from using an additional unit of labor.

Mathematically, marginal physical product of labor is given by the formula;

Marginal physical product of labor = ΔY/ΔL

Where, ΔY is the change in total physical output.

ΔL is the change in labor.

In the short run, when the number of workers are increased it would result in a diminishing marginal product with respect to the law of diminishing marginal returns.

The marginal physical product of labor is the slope of the total output curve at the relevant point.

For instance, if brainly producing 50 answers decides to employ one more tutor and is then able to produce 55 answers, the marginal physical product of labor is simply 5.