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You are given the following 3 facts: (1) A firm employs 12 units of labor in the short-run; (2) output per unit of labor is
You are given the following 3 facts: (1) A firm employs 12 units of labor in the short-run; (2) output per unit of labor is 8, and (3) the marginal product of labor is 10. Then: O the average product must be falling. O the average product must be rising. the marginal product must be rising. the marginal product must be falling
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Managerial Economics and Strategy
Authors: Jeffrey M. Perloff, James A. Brander
2nd edition
134167879, 134167872, 9780134168319 , 978-0134167879
