As more output is produced, the marginal product of labor declines because the firm's marginal revenue declines: a) if the firm's output supply curve is inelastic. b) if firms reduce the wage paid to labor. c) because of the law of diminishing returns.
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Home » Business » As more output is produced, the marginal product of labor declines because the firm's marginal revenue declines: a) if the firm's output supply curve is inelastic. b) if firms reduce the wage paid to labor.