28. Other things held constant, after some point hiring additional units of labor will cause the marginal physical product of labor to decline because the wage rate increases when additional workers are hired. the supply of labor is perfectly elastic. of the law of diminishing marginal product. the firm is a price taker.

28. Other things held constant, after some point hiring additional units of labor will cause the marginal physical product of labor to decline because
the wage rate increases when additional workers are hired.
the supply of labor is perfectly elastic.
of the law of diminishing marginal product.
the firm is a price taker.

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