The claim that lower environmental standards in foreign countries reduce industrial competitiveness for high standard countries is on firm theoretical ground because
A) higher environmental standards requirements raise the cost of production to a firm or industry abiding by the rules.
B) there will be a race-to-the-bottom competition on environmental standards.
C) the interests of firms that are subject to the high standards coincide with the nation's interests, one-for-one.
D) environmental standards in most countries have gotten more lax over time.
A
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Using the points on the diagram below, identify which combinations of these points illustrate diminishing returns to capital. Give a brief explanation to support your answer
What will be an ideal response?
When labor is a firm's only variable input in its production process, a profit-maximizing firm will continue to employ additional workers as long as: a. the marginal product of labor > 0
b. the marginal revenue product of labor < the marginal resource cost. c. the marginal revenue product of labor > the marginal resource cost. d. none of the above.