Suppose that there are diminishing returns to labour.If the _____ of labour hired by a firm increases,holding everything else constant,the _____ labour will _____.
A) price;demand for;increase
B) quantity;marginal product of;fall
C) quantity;marginal product of;rise
D) quantity;value of the marginal product of;rise

Question

Quizplus · Accepted Answer

Diminishing returns to labor imply that as more labor is hired, the additional output produced by each additional unit of labor (marginal product) decreases.

Suppose That There Are Diminishing Returns to Labour