Increasing Marginal Product of Labor Results in

question 95

Multiple Choice

Increasing marginal product of labor results in

• A)increasing marginal cost.
• B)decreasing marginal cost.
• C)decreasing average fixed cost.
• D)increasing average cost.
• E)decreasing average cost.

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Definitions:

Manufacturer List Prices

The recommended retail price set by the maker of a product, indicating the price retailers are suggested to sell at to consumers.

Acronym

A word formed from the initial letters of a name or by combining initial letters or parts of a series of words.

FOB

Free On Board; a term in international commercial law specifying at what point the risk of loss shifts from the seller to the buyer.

Trade-In Allowance

The amount credited to the buyer by the seller when the buyer gives a previously owned product as part of the payment for a new product.