Consider the following statements when answering this question: I. If a firm employs only one variable factor of production, labor, and the marginal product of labor is constant, then the marginal costs of production are constant too. II. If a firm employs only one variable factor of production, labor, and the marginal product of labor is constant, then short-run average total costs cannot rise as output rises. A. I is true, and II is false. B. I is false, and II is true. C. I and II are both true. D. I and II are both false.
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Home » Business » Consider the following statements when answering this question: I. If a firm employs only one variable factor of production, labor, and the marginal product of labor is constant, then the marginal costs of production are constant too. II.