The extra amount of output a firm can generate by adding one more unit of labor is called the product of labor. (Insert a single word.)

The extra revenue received by a firm from selling the output obtained from an extra unit of labour is called:Group of answer choicesthe marginal revenue product of labourdiminishing marginal productthe average product of labourthe marginal product of labour

The increase in output created by the addition of one more unit of input is called:A.marginal revenue product.B.marginal resource cost.C.marginal physical product.D.marginal revenue.E.marginal cost.

The extra or additional cost of producing one more unit of output is called __

As a firm adds additional workers to its fixed capital, the marginal product of labor typically . (Insert a single word.)

The amount of output produced per unit of input used is referred to as ______.productivitymarginal costspecializationdivision of labor.