What is the correct formula for calculating the marginal revenue product of labor, where L represents labor and X denotes the product?

Explanation

The marginal revenue product of labor is determined by multiplying the marginal product of labor (MPL) by the price of the product (PX). Therefore, the correct formula is (MPL) × (PX). Note that option C, PX/MPL, is incorrect as it represents the price divided by the marginal product rather than their product.