How is marginal product affected if workers are added who are equally good at the job?
a. The increase in workers will eventually cause marginal output to fall.
b. The value of marginal output increases more with each additional good worker.
c. With equivalent workers, marginal productivity will neither rise nor fall.
d. Marginal quality will improve as the added workers gain experience.
a. The increase in workers will eventually cause marginal output to fall.
You might also like to view...
A corporation is a firm owned by
A) two or more owners who have unlimited liability. B) a single owner who has unlimited liability. C) at least 20 stockholders who have partially limited liability. D) stockholders who have limited liability.
Of the different types of businesses, a ________ has the most government rules and the most government regulations affecting it
A) sole proprietorship B) corporation C) partnership D) All of the above are subject to the same amount of rules and regulations.
The three noteworthy features of corporations’ legal status include all of these except
A. how they are taxed. B. special limits are placed on the losses that may be incurred by those who invest in corporations. C. the corporation is a distinct entity separate from its owners. D. they may invest in the stock market and acquire financing.
The discount rate is the rate of interest at which:
A. Federal Reserve Banks lend to commercial banks. B. savings and loan associations lend to some builders. C. Federal Reserve Banks lend to large corporations. D. commercial banks lend to large corporations.