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.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Suppose that the marginal revenue product function
Q2: If a tax is placed on an
Q3: If the hourly wage is $50 and
Q4: Workers will bear less of a payroll
Q6: If two inputs are substitutes in production,and
Q7: The firm's labor demand curve in the
Q8: If employers are paid a subsidy of
Q9: Consider a firm using three inputs: unskilled
Q10: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3580/.jpg" alt=" Consider the short
Q11: The marginal product of labor tells us<br>A)