As a competitive firm hires increasing amounts of labor, the value of marginal product of labor

Name: As a competitive firm hires increasing amounts of labor, the value of marginal product of labor
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As a competitive firm hires more labor, the value of the marginal product of labor typically decreases due to the law of diminishing marginal returns, which states that adding more of a variable input to a fixed input will eventually yield lower additional output.

As a Competitive Firm Hires Increasing Amounts of Labor, the Value