Diminishing marginal returns occur because
a. All inputs are variable in the short-run
b. All inputs are variable in the long-run
c. Some inputs are fixed and some inputs are variable in the short-run
d. None of the above
c
Economics
You might also like to view...
John has $40 to spend on pizza and tacos. Pizza costs $10 each and tacos are $1 per taco. John's real income ________
A) is $40 B) is 4 pizzas or 40 tacos C) is 4 pizzas plus 40 tacos D) depends only on his money wage
Economics
A good is excludable if
a. one person's use of the good diminishes another person's enjoyment of it. b. the government can regulate its availability. c. it is not a normal good. d. people can be prevented from using it.
Economics