State the law of diminishing marginal returns
What will be an ideal response?
As more units of a variable input are used in conjunction with a fixed input, the extra output of the variable input will eventually begin to decrease and continue to decrease as more units are used.
Economics
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From which of the following is it least difficult to exclude free riders?
A) A library book B) Landscaping on the edges of urban expressways C) Police protection D) Fireworks displays
Economics
When Peter sells his Google common stock at the same time that Brian purchases the same amount of Google stock from another party, Google receives
A) the dollar value of the transaction. B) only the par value of the common stock. C) nothing. D) the dollar amount of the transaction, less brokerage fees.
Economics