If production displays increasing marginal returns, then
A) the firm must be adding new capital to keep boosting productivity.
B) each new worker hired adds more to output than previous hires.
C) total product reaches a maximum sooner than if production displayed decreasing returns.
D) total product rises by a constant amount throughout.
B
Economics
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When a price control pushes the price of a good or resource below the market equilibrium, then
A) the quantity supplied will be greater than the quantity demanded of the good. B) a shortage of the good will develop. C) the scarcity of the good will be eliminated. D) a surplus of the good will develop.
Economics
If few people have the skill required for a job, it will pay less.
Answer the following statement true (T) or false (F)
Economics