Question: Please explain this question and any related theory to do with it so i am able to understand what is happening, thank you. Please feel
Please explain this question and any related theory to do with it so i am able to understand what is happening, thank you. Please feel free to link any graphs or reference links from websites.
- Suppose that labour is the only variable input to the production process. If the marginal cost of production is diminishing as more units of output are produced, what can you say about the marginal product of labour (the variable input)?
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