The value of the marginal product curve slopes _ due to _______. a. downward, constant wages...

Question

Question

The value of the marginal product curve slopes _________ due to _______________.

	a.	downward, constant wages
	b.	upward, increasing marginal product
	c.	downward, increasing marginal product
	d.	downward, diminishing marginal product

business economics

Answer 1

Answer #1

Marginal product is the additional output that is generated by producing extra one additional unit.

It is always downward sloping and follows the law of diminishing returns .

Law of diminishing returns is that when input increases firstly then output increases .

After then it increases at a constant rate and when input in is continuously increasing then output increases but at a diminishing rate.

So the correct answer here is option D

Answer 2

Similar Homework Help Questions

The demand curve slopes downwards due to Diminishing Marginal Product of Labor B Decreasing Marginal Costs...

The demand curve slopes downwards due to Diminishing Marginal Product of Labor B Decreasing Marginal Costs Diminishing Marginal Utility Decreasing Long-run Average Cost
QUESTION 9 The perfectly competitive firm faces a downward sloping demand curve. constant marginal costs. a...

QUESTION 9 The perfectly competitive firm faces a downward sloping demand curve. constant marginal costs. a horizontal supply function. perfectly elastic demand. QUESTION 10 The short-run industry supply curve slopes up because the law of diminishing marginal product applies in the short run. wages increase as the industry increases output. the firms eventually experience diseconomies of scale. the higher price is needed to get more firms to enter the industry.
Scenario 10-1 The demand curve for gasoline slopes downward and the supply curve for gasoline slopes...

Scenario 10-1 The demand curve for gasoline slopes downward and the supply curve for gasoline slopes upward. The production of the 200th gallon of gasoline entails the following: . a private cost of $3.03; • a social cost of $3.23; • a value to consumers of $3.39. Refer to Scenario 10-1. Suppose the equilibrium quantity of gasoline is 220 gallons; that is, Q MARKET = 220. Then the equilibrium price of a gallon could be a. $3.08. b.$2.77. C. $2.45....

1. The long-run average cost curve slopes upward if there are: A. economies of scale B....

1. The long-run average cost curve slopes upward if there are: A. economies of scale B. diseconomies of scope in the management of multiplant operates C. Some factors without diminishing marginal returns D. diseconomies of scale E. no factor without diminishing marginal returns
A portion of a network good's demand curve slopes downward, due to lower production costs. True...

A portion of a network good's demand curve slopes downward, due to lower production costs. True False
Diminishing marginal returns implies that O A. marginal product is constant. O B. marginal product is decreasing. O C....

Diminishing marginal returns implies that O A. marginal product is constant. O B. marginal product is decreasing. O C. marginal product is increasing. OD. marginal product may be increasing or decreasing.

Suppose a firm has market power and faces a downward-sloping demand curve for its product, and...

Suppose a firm has market power and faces a downward-sloping demand curve for its product, and its marginal cost curve is upward sloping. If the firm reduces its price, then A. producer surplus increases due to new buyers, but the producer surplus from existing customers declines due to the lower price. B. the sum of producer and consumer surplus remains the same, but surplus value is transferred from the producer to consumers. C. the change in producer surplus is transferred...
what happens to total cost curve due to diminishing marginal product and explain the reasons for...

what happens to total cost curve due to diminishing marginal product and explain the reasons for the curve??
The average variable cost curve slopes upward with a higher rate of output in the short...

The average variable cost curve slopes upward with a higher rate of output in the short run because of A. The effect of diminishing returns. B. The shape of the average fixed cost curve. C. Diseconomies of scale. D. Implicit but not explicit costs.

Draw a basic supply and demand curve. Which one (supply or demand) slopes downward? Which one...

Draw a basic supply and demand curve. Which one (supply or demand) slopes downward? Which one (supply or demand) slopes upward? What does this mean? What do you call the part where they intersect?

The value of the marginal product curve slopes _________ due to _______________. a. downward, constant wages...