Question: The Graph shows a production function that exhibits marginal product of labour that is decreasing only Quantity of Output Production function Quantity of Labor

The Graph shows a production function that exhibits marginal product of labour

The Graph shows a production function that exhibits marginal product of labour that is decreasing only Quantity of Output Production function Quantity of Labor 2. How will this affect wages, by increasing, or decreasing? Will it have no effect or is the effect ambiguous? 3. Will this increase, decrease or have no effect on the number of laborers in the city? 4. How does this affect the slope of the pricing function? a. Increase b. Decrease C. No effect d. Ambiguous 5. How will the decreasing marginal product of labour affect rents at every distance from the city center? By decreasing, increasing, ambiguously, or by no effect?

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