When the production function gets flatter as the quantity of labor increases, we know
A) that marginal product of labor is rising.
B) that marginal product of labor is falling.
C) nothing about the marginal product of labor.
D) that marginal product of labor is zero.
E) that marginal product of labor goes to infinity.
Correct Answer:
Verified
Q44: Exhibit 6-1 Q45: In 2016, a firm produced 100 units Q46: Revenue is the only factor that affects Q47: Total revenue always increases if price increases. Q48: Total revenue is the price of a Q50: Total costs include all of the following Q51: Production in the short run requires Q52: The change in total output that occurs Q53: By definition, a profit-maximizing firm is a Q54: Exhibit 6-1
A)no factor
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