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.
Correct Answer:
Verified
Correct Answer:
Verified
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