Because of the law of diminishing returns,as additional workers are hired,total output
A) Rises at a constant rate at all output levels.
B) Rises at a diminishing rate initially and eventually falls.
C) Falls at a diminishing rate at all output levels.
D) Falls at an increasing rate at all output levels.
Correct Answer:
Verified
Q47: The demand for labor is downward-sloping because
Q48: The law of diminishing returns states that,ceteris
Q49: In competitive markets,the marginal revenue product curve
Q50: A competitive firm should continue to hire
Q51: A firm should hire an additional worker
Q53: A firm's demand for labor is referred
Q54: If consumers decide to buy fewer strawberries,then
Q55: If a chair can be sold for
Q56: Assume the apple market is competitive.If citizens
Q57: The marginal physical product of labor is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents