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Loraine Loraine
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Diminishing returns, so that each additional hour of labor employed produces successively smaller additional amounts of real GDP, exist because
A) labor is not very productive.
B) extra labor produces more output.
C) all other factors are held fixed.
D) the price level rises as more workers are employed.
E) additional workers are paid higher wage rates.
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Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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