As More Output Is Produced, the Marginal Product of Labor

question 268

Multiple Choice

As more output is produced, the marginal product of labor declines

• A)because of the law of diminishing returns.
• B)if firms reduce the wage paid to labor.
• C)if the firm's output supply curve is inelastic.
• D)because the firm's marginal revenue declines.

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Definitions:

Normal Model

A statistical model that assumes data follow a bell-shaped normal distribution, often used in probability and statistics.

Standard Deviation

A measure indicating the amount of variation or dispersion of a set of values from the mean, reflecting how spread out these values are.

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