Diminishing marginal product is closely related to
a. diminishing total cost.
b. diminishing marginal cost.
c. increasing price.
d. increasing marginal cost.
d
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During Britain's brief alignment with the ERM from 1990-1992, the trilemma tells us that monetary policy authority no longer existed in Britain. Why?
A) Britain could print more pounds, but could not increase its gold stock. B) Britain kept monetary growth rates at zero. C) The British interest rate equaled the German rate to attain uncovered interest parity. D) The British could lower unemployment using other means such as fiscal policy.
A pizza shop owner needs to buy a pizza oven and is deciding between a new one and a used one. If he buys an older used one it will generate $4,000 of net income for 3 years. If he buys a new one it will generate $5,000 of net income for 4 years. If the
interest rate is 10%, what is the difference in value between the two ovens? (Assume that each year's revenue is received at the end of the year.) a. $793.83 b. $2,577.10 c. $6,252.25 d. $2,777.78 e. $1,000