As a result of a labeling mistake at the chemical factory, a farmer accidentally sprays weedkiller rather than fertilizer on half her land. As a result, she loses half of her productive farmland. If the property of diminishing returns applies to all factors of production, she should expect to see the marginal productivity of her remaining land
a. increase.
b. remain unchanged.
c. decrease but remain positive.
d. decrease and become negative.
a
Economics
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The rate of growth in real GDP minus the rate of growth of the population is the
A) rate of growth of nominal GDP. B) population growth rate. C) rate of growth of per capita real GDP. D) unemployment rate.
Economics
In an increasing cost industry, the long-run supply curve is
a. positively sloped. b. negatively sloped. c. horizontal. d. vertical.
Economics