When adding another unit of labor leads to an increase in output that is smaller than the increases in output that resulted from adding previous units of labor, the firm is experiencing
a. diminishing labor.
b. diminishing output.
c. diminishing marginal product.
d. negative marginal product.
c
Economics
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A substantial reduction in the rate of inflation is called:
A. disinflation B. inflation inertia C. hyperinflation D. inflation shock
Economics
Which component of GDP is most likely to be negative?
A. Net exports B. Gross private domestic investment C. Government purchases D. Imports
Economics
If exports exceeded imports it would be called a trade __________.
Fill in the blank(s) with the appropriate word(s).
Economics
Table 21.1Units of LaborUnits of Output00115235345452With which unit of labor do diminishing marginal returns first appear in Table 21.1?
A. The first. B. The second. C. The fourth. D. The third.
Economics