In the Short Run, Marginal Product of Labor Increases at First

question 188

Multiple Choice

In the short run, marginal product of labor increases at first and then falls because

• A)as more labor is hired, they are not as skilled as the first ones hired.
• B)there are fewer opportunities for division of labor and specialization when fewer workers are hired.
• C)managerial inefficiency sets in when a firm gets too large.
• D)the new workers do not have as much experience as those who have been with the firm for a long time and therefore are not as productive.

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Definitions:

P-Value

The probability of observing a test statistic as extreme as, or more extreme than, the observed value under the assumption that the null hypothesis is true.

Kruskal-Wallis Test

A nonparametric statistical test that assesses whether there are statistically significant differences between two or more groups of an independent variable on a continuous or ordinal dependent variable.

Kruskal-Wallis H Test

A nonparametric statistical test designed to assess whether there's a significant difference between two or more groups related to an independent variable, with respect to a continuous or ordinal dependent variable.

Heart Rate

The number of times the heart beats per minute, a vital sign used to assess the general physical health of an individual.