Final answer:
The marginal product of labor and the marginal revenue product of labor are both measured in units of output.
Step-by-step explanation:
The statement is True.
The marginal product of labor and the marginal revenue product of labor are both measured in the same units, which are units of output. The marginal product of labor refers to the additional output produced by adding one more unit of labor input to the production process. The marginal revenue product of labor, on the other hand, represents the additional revenue generated by employing one more unit of labor.
For example, if the marginal product of labor is 10 units and the firm's output price is $5 per unit, then the value of the marginal product of labor is $50 (10 units x $5/unit). Similarly, if the marginal revenue product of labor is 15 units and the firm's output price is $8 per unit, then the value of the marginal revenue product of labor is $120 (15 units x $8/unit). Both the marginal product and the marginal revenue product are measured in units of output.