Consider the following statements when answering this

Consider the following statements when answering this question: I. If the marginal product of labor increases whenever more labor is used, and labor is the only factor of production used by the firm, than then marginal cost of production is decreasing. II. If labor obeys the law of diminishing returns, and is the only factor of production used by the firm, then marginal cost of production is increasing. A) I is true, and II is false. B) I is false, and II is true. C) I and II are both true. D) I and II are both false.

 

Leave a Comment

Your email address will not be published. Required fields are marked *

GradeEssays.com
We are GradeEssays.com, the best college essay writing service. We offer educational and research assistance to assist our customers in managing their academic work. At GradeEssays.com, we promise quality and 100% original essays written from scratch.
Contact Us

Enjoy 24/7 customer support for any queries or concerns you have.

Phone: +1 213 3772458

Email: support@gradeessays.com

© 2020 -2025 GradeEssays.com. All rights reserved.

WE HAVE A GIFT FOR YOU!

15% OFF 🎁

Get 15% OFF on your order with us

Scroll to Top