Diminishing returns refers to the decrease in
A. average total cost that results from decreases in input prices.
B. long-run average cost that results from increases in output.
C. profit that results from increases in output.
D. marginal product that results from increases in the variable input.
E. average product that results from increases in the variable input.
Answer: D
Economics
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If M stand for the money supply, V for the velocity of money, P for the average selling price, and Q for the output of goods and services, the equation of exchange is MV = PQ
a. True b. False Indicate whether the statement is true or false
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