In the short run when the marginal product of labor ________, the marginal cost of an additional unit of output ________.
A) rises; rises
B) falls; falls
C) rises; falls
D) falls; doesn't change
Correct Answer:
Verified
Q33: Marginal cost is _ average variable cost
Q34: Total variable costs
A) initially increase as output
Q35: Refer to the information provided in
Q36: Short-run costs that depend on the level
Q37: The explanation for why marginal cost is
Q39: _ are likely a fixed cost of
Q40: Refer to the information provided in
Q41: Refer to the information provided in
Q42: The formula for AVC is
A) q/TVC.
B) TVC/q.
C)
Q43: In the short run, as output increases,
A)
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