If a firm is experiencing diminishing marginal returns,
a. total output decreases as all resources are increased
b. total output decreases as all resources are decreased
c. total output decreases as one variable resource is increased, other things constant
d. additional increments of output diminish as one variable resource is increased, other things constant
e. additional increments of output diminish as all variable resources are increased
D
You might also like to view...
If workers and firms expect that inflation will be 3 percent next year, and real wages are not changing over time, by how much will nominal wages increase?
A) more than 3 percent B) 3 percent C) less than 3 percent D) depends on actual inflation for next year
Which of the following is an example of a pure public good?
a. A bus. b. A mall. c. A teddy bear. d. An army. e. An automobile.