The "law" of diminishing returns is also referred to as
a. the "law" of diminishing returns to scale.
b. the "law" of variable input proportions.
c. diminishing average physical product.
d. the "law" of decreasing cost.
b
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Checking accounts that pay interest are included in the
A) "other checkable deposits" part of M1. B) "savings deposits" part of M2. C) "demand deposits" part of M1. D) "money market mutual funds deposits" part of M2.
If an oligopolistic firm in a game theory kind of market cuts price, in the long run
a. the other firms will follow and all firms will be worse off b. the price cutter will be worse off if other firms don't cut price as well because revenue equals price times output and since price was cut, its revenue must be less c. its market share and profit will increase at the expense of its rivals d. the other firms will follow and all firms will be better off because at lower prices, industry sales will increase e. it will become a monopoly, having outsmarted its rivals, and will be able to raise the price again. That's how the game is played.