Suppose there are diminishing returns to labor.If the _____ of labor hired by a firm increases,holding everything else constant,the _____ labor will _____.
A)price;demand for;increase
B)quantity;marginal product of;fall
C)quantity;marginal product of;rise
D)quantity;value of the marginal product of;rise

Question

Quizplus · Accepted Answer

Diminishing returns to labor imply that as more labor is hired, the additional output produced by the last unit of labor (marginal product) decreases, holding everything else constant.

Suppose There Are Diminishing Returns to Labor