Diminishing marginal product of labor means that: A. as more capital is employed, the marginal product of labor declines B. the increments to output produced by successive units of labor (holding other inputs constant) rises C. the increments to output produced by successive units of labor (holding other inputs constant) declines D. total output falls as more labor is employed
Diminishing marginal product of labor means that: A. as more capital is employed, the marginal product of labor declines B. the increments to output produced by successive units of labor (holding other inputs constant) rises C. the increments to output produced by successive units of labor (holding other inputs constant) declines D. total output falls as more labor is employed
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 18PAE
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Diminishing marginal product of labor means that:
A.
as more capital is employed, the marginal product of labor declines
B.
the increments to output produced by successive units of labor (holding other inputs constant) rises
C.
the increments to output produced by successive units of labor (holding other inputs constant) declines
D.
total output falls as more labor is employed
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