If the Marginal Product of Labour Is Decreasing, Then Marginal

question 266

True/False

If the marginal product of labour is decreasing, then marginal cost of production must be rising.

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Definitions:

Substitute Goods

Products or services that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.

Federal Tax

Taxes imposed by the federal government on income, sales, imports, estates, and gifts, among others, to fund national programs and services.

Demand for Marijuana

The desire for and quantity of marijuana that consumers are willing and able to purchase at various prices.

Market

Any institution or mechanism that brings together buyers (demanders) and sellers (suppliers) of a particular good or service.