If the law of diminishing returns applies to labor then
A) the marginal product of labor must eventually become negative.
B) the average product of labor must eventually become negative.
C) the marginal product of labor must rise and then fall as employment rises.
D) the average product of labor must rise and then fall as employment increases.
E) after some level of employment, the marginal product of labor must fall.
E
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International Banking Facilities (or IBFs) were established in 1981
Indicate whether the statement is true or false
Your economics professor has decided that your class will not be graded on a curve but on an absolute scale. Therefore, it is possible for every student in the class to get an "A
" Your grade will not depend in any way on your classmates' performance. Based on this information, you decide that you should study economics three hours each day, regardless of what your classmates do. In the language of game theory, your decision to study three hours each day is: A) a dominant strategy. B) a minimax strategy. C) a maximin strategy. D) a Prisoner's dilemma.