The Marginal Value Product of Labor Curve for a Competitive

question 59

Multiple Choice

The marginal value product of labor curve for a competitive firm is:

• A)upward-sloping because marginal product of labor and capital are diminishing.
• B)downward-sloping because marginal product of labor is diminishing.
• C)upward-sloping because marginal product of labor and marginal revenue are diminishing.
• D)downward-sloping because average product of labor is diminishing.

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