f a business owner can produce more as a whole with an additional worker even if the marginal product associated with that worker is lower than the marginal product associated with the previous worker, then there are:Multiple choice question.increasing marginal returns.diminishing marginal returns.zero marginal returns.negative marginal returns.

Assume that a firm hires an additional employee. If the marginal product for that employee is greater than for the previous employee hired, it must be thatGroup of answer choicesall workers are not paid the same wage.the workers all perform the exact same set of tasks.all workers are paid the same wage.there are gains from specialization.the marginal product of labor is diminishing.

Multiple Choice QuestionThe decreasing marginal product from the addition of one additional unit of labor is due to which of the following?Multiple choice question.The law of diminishing marginal utilityThe law of diminishing returnsThe law of supplyThe law of demand

Multiple Choice QuestionDiminishing marginal returns imply that beyond a certain point Blank______.Multiple choice question.the marginal costs of a firm declineeconomies of scale occurthe marginal product of labor declinesthe output of a firm expands

If a firm hires another worker and her marginal product of labor is negative, we know that the firm’s total output isGroup of answer choicesincreasing.unchanged.equal to the marginal product of that worker.zero.decreasing.

Multiple Choice QuestionWhat is the marginal product?Multiple choice question.The ability of one product to be acceptably substituted for another productThe price at which a product will no longer be profitableThe demand for a product that comes from demand for items for which it usedThe additional output from using one more unit of labor