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Assume That the Only Variable Resource Used to Produce Output

question 7

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Assume that the only variable resource used to produce output is labor. Assume that the only variable resource used to produce output is labor.   Refer to the provided table. With diminishing marginal returns, if the firm hires seven units of labor, which of the following numbers would most probably be the total product? A) 40 B) 39 C) 42 D) 37 Refer to the provided table. With diminishing marginal returns, if the firm hires seven units of labor, which of the following numbers would most probably be the total product?


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