If the Price of Labor Is Constant and a Firm

question 321

Multiple Choice

If the price of labor is constant and a firm experiences diminishing marginal product, then its

• A) marginal costs increase.
• B) marginal costs decrease.
• C) fixed costs increase.
• D) total costs decrease.

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Definitions:

Genetic Counselor

A healthcare professional who advises individuals and families on the risk, inheritance, testing, and management of genetic disorders.

In Vitro Fertilization

Fertilization, the creation of zygotes, through mixing sperm with ova that have been surgically removed from the woman’s body.

Phenotype

A person's observable physical traits, such as eye color, hair color, or height.

Genotype

The genetic constitution of an individual organism, determining inherited traits and often influencing phenotype.