The law of diminishing marginal productivity states that
a. As you expand output, your marginal productivity eventually increases
b. As you expand output, your marginal productivity eventually declines
c. As you expand output, the total product eventually increases
d. None of the above
b
Economics
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A Nash equilibrium is:
A. an outcome in which all players choose the best strategy they can, given the choices made by all of the other players. B. when one strategy is always the best for a player to choose, regardless of what other players do. C. an outcome in which all players follow a "leader" in order to maximize profits. D. None of these statements is true.
Economics
Bad health is an example of:
A. a poverty trap. B. a societal trap. C. a social digression. D. None of these is true.
Economics