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Explain the relationship between the marginal product of variable inputs (like labor) and the marginal cost of production. Do they affect each other, or does
Explain the relationship between the marginal product of variable inputs (like labor) and the marginal cost of production. Do they affect each other, or does one cause the other? Are there possible situations where the marginal costs of production do not rise? If so, what does that mean for the marginal product of the inputs or the price of these inputs? (Feel free to explain with an example and table.)
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