When Total Product Is Diminishing,marginal Product Is

question 114

Multiple Choice

When total product is diminishing,marginal product is:

• A) positive and increasing.
• B) positive and decreasing.
• C) constant.
• D) negative.

Understand the role and impact of unions on wage disparity.

Recognize the concept of compensating differentials and how they contribute to wage disparities.

Grasp the marginal productivity theory of income distribution and its implications.

Comprehend the concept and purpose of efficiency wages and their effects on unemployment.

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Definitions:

Executory

Describing a contract or deed yet to be fully executed or performed, often depending on certain conditions being met.

Voluntary Agreement

A mutual consent or contract between parties, typically concerning legal obligations and enforcements.

Offer

A proposal presented by one party to another with the intention to enter into a legally binding contract upon acceptance.

Acceptance

The actual or implied receipt and retention of that which is tendered or offered.