For a Perfectly Competitive Firm, the Value of Marginal Product

question 10

Multiple Choice

For a perfectly competitive firm, the value of marginal product diminishes as employment increases because the

• A) price falls as the firm's production increases.
• B) marginal revenue decreases as the firm's production increases.
• C) marginal product decreases as the firm's production increases.
• D) None of the above answers is correct.

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