Why is the marginal product of labor diminishing?, Macroeconomics

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Why is the marginal product of labor diminishing?

Problem

1. What is the representative firm's goal?

2. Why is the marginal product of labor diminishing?

3. What are the effects on the production function of an increase in total factor productivity?

4. Explain why the marginal product of labor curve is the firm's labor demand curve.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: Why is the marginal product of labor diminishing?

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