A firm's cost can decrease for each of the following reasons, EXCEPT:
a. an increase in productivity due to experience.
b. an improvement in productivity of capital employed.
c. an improvement in work environment and quality of management.
d. an increase in input prices.
D
Economics
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If diminishing marginal returns have already set in for Golden Lark Woodworks, and the marginal product of the 6th carpenter is 8 chairs, then the marginal product of the 7th carpenter is
A) more than 8 chairs. B) zero. C) negative. D) less than 8 chairs.
Economics
What do structural reform policies emphasize?
What will be an ideal response?
Economics