Question
A short-run technology is exhibiting diminishing marginal product of labor so thatf(L)=d/dL[MP L ] <0.Which of the following are true? (check all that apply) a.marginal
A short-run technology is exhibiting diminishing marginal product of labor so thatf(L)=d/dL[MPL]<0.Which of the following are true? (check all that apply)
a.marginal cost is decreasing
b.marginal cost is increasing
c.the FOC will identify a profit minimizing allocation
d.the FOC will identify a profit maximizing allocation
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Mostly Harmless Econometrics An Empiricist's Companion
Authors: Joshua Angrist
1st Edition
1400829828, 9781400829828
