Diminishing marginal product suggests that the marginal:
A) product of an extra worker is less than the previous worker's marginal product
B) cost of an extra worker is less than the previous worker's marginal cost
C) product of an extra worker is greater than the previous worker's marginal product
D) cost of an extra worker is unchanged
Correct Answer:
Verified
Q102: Average total cost necessarily rises due to
Q103: Marginal cost equals which of the following?
(i)
Q104: Which of the following statements are true?
Q105: The efficient scale of a firm is
Q106: The average total cost curve is increasing
Q108: The average total cost curve will be
Q109: Marginal cost is equal to average total
Q110: The marginal cost curve crosses the average
Q111: Graph 13-3 Q112: Marginal cost equals:
A)total cost divided by total
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