Question

 If we assume................ at all employment levels; the marginal value product of labor (MVPL)........

Fill in the blanks with the correct concepts, respectively.

a)Diminishing marginal productivity, slopes up

b)Diminishing marginal productivity, slopes down

c)Decreasing returns to scale, is increasing

d)Increasing returns to scale, is constant

please answer with an explanation

Answer 1

If we assume diminishing marginal productivity at all employment levels, then the marginal value product of labor (MVPL) slopes down.

So, the correct answer is b).