If a factor exhibits diminishing marginal product, hiring additional units of the factor will
A) cause a reduction in output.
B) have no effect on output.
C) increase the marginal product of the factor.
D) generate ever smaller amounts of output.
Correct Answer:
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Q3: The most important factors of production are
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Q5: A factor exhibits diminishing marginal productivity if
Q6: At least some of the difference in
Q7: If there is a difference in wages
Q9: If there is an increase in the
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