When the Average Product of Labor is positive but declining, the Marginal Product of Labor could be? Declining Zero Negative any of the above

When the Total Product falls the Average Product of Labor is zero the Marginal Product of Labor is zero the Average Product of Labor is negative the Average Product of Labor is declining

Consider an economy with the production function  with A=10, K=100, and N=400, Suppose labour participation rates decline as a greater proportion of the population attends University full time before entering the job market so that N declines to N=380. In this case, Group of answer choicesBoth the Marginal Product of Labour and the Marginal Product of Capital increase.Both the Marginal Product of Labour and the Marginal Product of Capital decrease.The Marginal Product of Labour increases while the Marginal Product of Capital decreases.The Marginal Product of Labour declines while the Marginal Product of Capital increases.

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.

Fill in the Blank QuestionFill in the blank question.When marginal product decreases when one more unit of labor is added, this reminds us of the law of . (Enter one word per blank.)

In the short run, if a firm's marginal physical product of labour is decreasing,a) the firm's output must also be decreasing.b) the firm's variable cost must be decreasing.c) the firm’s marginal cost must be increasing.d) the firm’s average variable cost must be decreasing