Refer to Scenario 1. The production function illustrated in the table:
Refer to Scenario 1. The production function illustrated in the table:
A) incurs diminishing marginal returns beyond the first unit of labor.
B) incurs diminishing marginal returns beyond the second unit of labor.
C) incurs diminishing marginal returns beyond the third unit of labor.
D) does not incur diminishing marginal returns because marginal product is positive for each unit of labor employed.
ANSWER
A
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