Ask a Question
  
  
  
Top Posters
Since Sunday
18
18
17
17
16
16
16
15
15
14
14
14
New Topic  
wrote...
Posts: 71
2 weeks ago

Question 1.

As more output is produced, the marginal product of labor declines

• because of the law of diminishing returns.

• if firms reduce the wage paid to labor.

• if the firm's output supply curve is inelastic.

• because the firm's marginal revenue declines.

Question 2.

A firm's demand curve for labor slopes downwards because

• of the law of diminishing marginal returns.

• firms supply less labor as the wage rate rises.

• workers supply less labor services as the wage rate falls.

• of rising marginal product.
Source  Download
Microeconomics
Edition: 7th
Authors:
Read 2 times
1 Reply
Replies
Answer verified by a subject expert
wrote...
Posts: 60
Rep: 5 0
2 weeks ago
Sign in or Sign up in seconds to unlock everything.

Answer 1

because of the law of diminishing returns.

Answer 2

of the law of diminishing marginal returns.
1
Related Topics
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers.
Learn More
Improve Grades
Help Others
Save Time
Accessible 24/7
  95 People Browsing
 126 Signed Up Today
Related Images
 60
 85
 80