Declining Marginal Product of Labor

question 5

Multiple Choice

Declining marginal product of labor

• A) is needed if competitive firms are to stop hiring workers at some point.
• B) allows firms to make the most profit.
• C) mainly exists because workers get tired after many hours of work.
• D) implies workers get more productive as more of them are hired.

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Definitions:

Heredity

The passing on of physical or mental characteristics genetically from one generation to another.

Genetic Variations

Differences in DNA sequences among individuals, which contribute to the biological diversity of species.

Population Increase

The growth in the number of individuals in a population, often discussed in the context of environmental, economic, and social implications.

Stressful Family Circumstances

Situations within a family that cause stress, tension, or conflict among its members.