Assume That a Firm Is Operating in the Short Run

question 32

Multiple Choice

Assume that a firm is operating in the short run and all resources are fixed except for labor.The total product curve for this firm will increase at a decreasing rate because:

• A)value of marginal product of labor is unchanged as more labor is hired.
• B)marginal product of labor will decline as more labor is hired.
• C)value of marginal product of labor will increase as more labor is hired.
• D)marginal product of labor is unchanged as more labor is hired.

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