From Equation (7

question 104

Multiple Choice

From Equation (7.1) in the book, the short-run marginal cost of production is MC = w/MP_L. Based on this equation, which of the following statements is NOT true?

• A) If the marginal product of labor is constant, then MC is constant.
• B) If the marginal product of labor is a concave curve, then the MC curve is also concave.
• C) If the marginal product of labor is a concave curve, then the MC curve is U-shaped.
• D) MC increases as the marginal product of labor declines.

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Sugar Cane

A tropical grass plant used primarily for its sucrose content, from which sugar is extracted.

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A type of fiber used in manufacturing processes, typically characterized by high strength and durability suitable for industrial applications.

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