If the marginal cost of producing every quantity decreases, all the following occur EXCEPT
A) minimum supply price does not change.
B) the marginal social benefit of the last unit bought changes.
C) the consumer surplus increases.
D) the efficient quantity increases.
Question 2
Marginal product is
A) the increase in output that results from a one-unit increase in the quantity of labor employed with all other inputs remaining the same.
B) total amount of output produced.
C) total amount of output produced divided by the quantity of labor employed.
D) total amount of output produced divided by price of the output.
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