Asked by

Walancia Registre
on Nov 04, 2024

verifed

Verified

The explanation for why marginal cost is positive and rising in the short run is ________ marginal product of labor in the production process.

A) a zero
B) a constant
C) an increasing
D) a diminishing

Marginal Cost

The cost incurred by producing one more unit of a product, which is pivotal for decision-making regarding production levels.

Marginal Product

Increment in production resulting from one extra unit of labor or capital.

Production Process

The method or sequence of operations involved in the conversion of inputs (like raw materials and labor) into finished goods or services.

  • Recognize the relationship between the marginal product of labor and marginal cost.
verifed

Verified Answer

DB
debasis BanapiliNov 05, 2024
Final Answer:
Get Full Answer