Author Question: Diminishing marginal product of labor occurs when: a. adding another unit of labor increases ... (Read 28 times)

skymedlock · **on:** Jun 30, 2018

Diminishing marginal product of labor occurs when:
a. adding another unit of labor increases output, but not by as large a margin as the previous unit of labor employed.
b. the average product of labor begins to rise.
c. adding another unit of labor increases output by a larger margin than the last unit of labor employed.
d. all inputs are varied simultaneously in the same proportion.

Question 2

From an economist's viewpoint, discrimination occurs if there is a wage differential between two groups when there is no difference in the marginal revenue product of the two groups.
a. True
b. False
Indicate whether the statement is true or false