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:

Black Panthers

An African-American revolutionary party, founded in 1966, that advocated for the defense of African-American communities from state oppression and police brutality.

Capitalist System

An economic system where trade, industry, and the means of production are largely or entirely privately owned and operated for profit, guided by market forces.

Gulf of Tonkin

Refers to an incident in 1964 off the coast of Vietnam that led to the U.S. Congress passing the Gulf of Tonkin Resolution, escalating American involvement in the Vietnam War.

Retaliatory Air Strikes

Military action taken in response to an initial attack, where air power is used to target specific locations or assets of the aggressor.