For a competitive firm experiencing diminishing marginal productivity, the value of the marginal product (i)
Increases when the price of output decreases.
(ii)
Changes when marginal product changes.
(iii)
Diminishes as the number of workers rises.
A) (i) and (ii)
B) (i) and (iii)
C) (ii) and (iii)
D) All of the above are correct.
Correct Answer:
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