Multiple Choice
As the quantity of labor increases, value of marginal product for a perfectly competitive firm
A) decreases because the firm must lower its price to sell a larger quantity.
B) decreases because the marginal product of labor decreases.
C) decreases because marginal revenue decreases.
D) is constant because marginal revenue is constant.
Correct Answer:
Verified
Related Questions
Q35: The value of marginal product of labor
Q36: When Sam's Scarves uses 2 knitting machines
Q37: As a competitive firm hires increasing amounts
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