1. Each month of 2021 and the first three months of 2022 have seenn job creation within the United States according to the monthlyn Employment Reports from the Bureau of Labor Statistics. As thesen workers are employed, would this affect the TFC and/or the TVC of an given firm that is employing these newly hired workers?
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3. Explain how the law of diminishing returns affects the shapesn of the variable cost (TVC) and total cost (TC) curves. 

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The law of diminishing returns is the principle that states that as more of a good or service is produced the marginal utility of each additional unit ... View the full answer