If decreasing long-run average cost is inherent in an industry's technology, then only one supplier can satisfy the entire market

If all inputs are raised by equal percentages and output increases by a larger percentage, there are decreasing returns to scale

Indicate whether the statement is true or false

The law of diminishing returns applies to which of the following segments of the marginal product of labor curve?

a. The point where labor input is zero. b. The downward-sloping segment only. c. The entire curve. d. The upward sloping segment only.