A worker's marginal product is the increase in total profits that results from the worker being hired.
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Q243: In the short run, output is referred
Q244: Average product is equal to labor divided
Q245: Hiring additional workers always causes output to
Q246: Average product is defined as the total
Q247: Average product of labor is total output
Q249: If hiring Joey causes average product to
Q250: A firm faces diminishing marginal returns when
Q251: Firms should not hire another worker if
Q252: Diminishing returns cannot occur if additional workers
Q253: Diminishing returns arise because of fixed resources
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