The marginal product of labor is calculated assuming other factor inputs
A) increase more than proportionately.
B) increase less than proportionately.
C) remain constant.
D) decrease.
Answer: C
Economics
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The demand for Country X's most important exportable product- electronic goods- is likely to double in the next 5 years. Which of the following is likely to happen in this case?
A) Consumption in Country X will rise. B) Asset prices in Country X will fall. C) Unemployment rate in Country X will rise. D) Investment in Country X will fall.
Economics
Assume that for whatever reason there is a manufacturing firm exhibits a constant marginal product of labor over a certain range of production
Armed with only this information what would you be able to say about the average product and total product of labor curves of this firm.
Economics