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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is the marginal cost of labor?

To determine

Define marginal cost of labor.

Explanation

The marginal cost of labor is the net addition to the total labor cost when an additional labor unit is employed by the firm. It can be calculated by using the following formula:

MCL= TCn-TC

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