The marginal revenue product of labor is usually downward sloping
Indicate whether the statement is true or false
True . The marginal revenue product equals the marginal product multiplied by the constant price. The marginal product of labor is usually downward sloping due to diminishing marginal returns.
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Which of the following pairs of policies shift aggregate demand in the same direction? a. A tax increase and an increase in the money supply
b. A transfer payment decrease and an increase in the money supply. c. A reduction in government purchases and decline in the money supply. d. An increase in government purchases and a decline in the money supply.
Which of the following statements about technology is true?
a. It is a sufficient but not necessary condition for economic growth. b. Management techniques are irrelevant to technological growth. c. Industrial countries follow the lead of developing countries in implementing new technology. d. Technological change is inversely related to a nation's ability to save. e. Low levels of education can impede technological progress.