Solved

As the Quantity of Labor Increases, Value of Marginal Product

Question 87

Multiple Choice

As the quantity of labor increases, value of marginal product for a perfectly competitive firm


A) decreases because the firm must lower its price to sell a larger quantity.
B) decreases because the marginal product of labor decreases.
C) decreases because marginal revenue decreases.
D) is constant because marginal revenue is constant.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions