Since the marginal product of labor equals the change in the quantity of output divided by the change in the quantity of labor, it stands to reason that:
a. a firm would never operate in the range where marginal product is negative.
b. a firm would never operate in the range where marginal product is decreasing.
c. marginal product will continually increase as the firm produces more.
d. there is no predictable relationship between marginal revenue and marginal cost.
Ans: a. a firm would never operate in the range where marginal product is negative.
You might also like to view...
When the federal government orders firms to use particular methods to reduce pollution, it is said to be using
A) market-based policies. B) global initiatives. C) strong-arm tactics. D) command-and-control policies.
What will happen if a country uses money creation to finance a large and expanding national debt?
a. Real output and employment will grow rapidly. b. Nominal interest rates will fall. c. The foreign exchange value of the currency will increase. d. The rate of inflation will rise.
____________________: Price actually paid for a specific propert
Fill in the blank(s) with the appropriate word(s).
A bank acts as ________ between buyers and sellers.
A. an interpersonal communicant B. a negotiator C. an agent D. an intermediary