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Suppose that the organization you are working for wants to increase its annual production, measured in units, by 50%. Also, assume that your organization's output
Suppose that the organization you are working for wants to increase its annual production, measured in units, by 50%. Also, assume that your organization's output i. is an increasing function of only capital and labor and ii. that the law of diminishing returns to a single factor holds for both capital and labor. Which of the assumptions above implies that the marginal product of labor is greater than zero for any level of employment? Explain
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