Marginal profit is:

a.

total revenue minus total cost.

b.

the change in profit caused by a given managerial decision.

c.

the profit earned by the firm over a brief period of time.

d.

the change in profit that results from a unit change in output.

The marginal revenue product of labor describes the:

a.

profit gained through expanding employment.

b.

breakeven profit level.

c.

added revenue from expanding employment.

d.

cost of expanding employment.