All else equal, as the labor supply increases, the marginal product of labor will
A) increase at an increasing rate.
B) increase at a decreasing rate.
C) decrease at an increasing rate.
D) decrease at a decreasing rate.
C
You might also like to view...
At the quantity of 200 bushels of apples, the marginal social benefit of a bushel of apples is $100 and the marginal social cost is $50. To produce the efficient quantity of apples
A) more apples should be produced. B) fewer apples should be produced. C) there should be no change in the amount of apples produced. D) More information on the willingness of consumers to purchase apples is needed to determine the efficient level of apples.
Which economic concept is the closest to the saying, "There's no such thing as a free lunch"?
a. Specialization b. Unlimited wants c. Underutilization of resources d. Opportunity costs e. Overutilization of resources
Antitrust laws can restrain the abuse of monopoly power.
Answer the following statement true (T) or false (F)
Imbalances in information can cause problems between:
A. buyers and sellers. B. employers and employees. C. lenders and borrowers. D. All of these statements are true.