The Value of Marginal Product of Labor

question 82

Multiple Choice

The value of marginal product of labor

• A) always increases as more labor is hired.
• B) is constant as long as each worker is paid the same wage rate.
• C) declines only if each worker is paid more than the previous worker.
• D) at some point declines as more workers are hired.
• E) at first decreases and then increases as more workers are hired.

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Definitions:

Global Trend

A widespread movement or direction in which something, such as technology, market demand, or cultural practice, is developing or changing on a global scale.

Accelerating Pace

An increasing rate of change or development in a particular process or activity, often perceived in technology, culture, and societal norms.

Social Change

Significant alteration over time in behavior patterns, cultural values and norms, or social structures within a society.

Status Quo

The existing state or condition of affairs, often used to refer to the current norms and power structures resistant to change.