Figure 18-9
-Refer to Figure 18-9. If the marginal product of labor falls and the price of apples remains unchanged,
(i) the value of the marginal product of labor will fall.
(ii) the quantity of labor demanded will increase above L₁.
(iii) the labor supply curve will remain unchanged.

Question

Figure 18-9 Figure 18-9 -Refer to Figure 18-9. If the marginal product of labor falls and the price of apples remains unchanged, (i) the value of the marginal product of labor will fall. (ii) the quantity of labor demanded will increase above L<sub>1</sub>. (iii) the labor supply curve will remain unchanged. A) (i) and (ii) only B) (ii) and (iii) only C) (i) and (iii) only D) (i) , (ii) , and (iii)

Figure 18-9 -Refer to Figure 18-9. If the marginal product of labor falls and the price of apples remains unchanged, (i) the value of the marginal product of labor will fall. (ii) the quantity of labor demanded will increase above L<sub>1</sub>. (iii) the labor supply curve will remain unchanged. A) (i) and (ii) only B) (ii) and (iii) only C) (i) and (iii) only D) (i) , (ii) , and (iii)

-Refer to Figure 18-9. If the marginal product of labor falls and the price of apples remains unchanged,
(i) the value of the marginal product of labor will fall.
(ii) the quantity of labor demanded will increase above L₁.
(iii) the labor supply curve will remain unchanged.

Quizplus · Accepted Answer

The value of the marginal product of labor will fall because it is the product of the marginal product of labor and the price of apples, which remains unchanged. The labor supply curve is not affected by changes in the marginal product of labor.

Figure 18-9 -Refer to Figure 18-9. If the Marginal Product of Labor