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In a short-run production process, a diminishing marginal product of labor explains why marginal cost is

justinw2200

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In a short-run production process, a diminishing marginal product of labor explains why marginal cost is

Question 1.

________ is (are) most likely a variable cost for a firm.

▸ The monthly lease payment on a delivery truck that is leased for three years

▸ The plumbing company's annual licensing fee

▸ The quarterly payments for a two-year maintenance contract for copy machines

▸ Monthly health insurance expenses for employees

Question 2.

In a short-run production process, a diminishing marginal product of labor explains why marginal cost is

▸ positive and rising.

▸ positive but falling.

▸ zero.

▸ negative and falling.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 100 times

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jzhu11

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5 years ago

More solutions for this book are available here

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justinw2200 Author

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Thanks

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