When the slope of the total production curve begins to flatten:
A. the marginal product must be decreasing.
B. diminishing marginal product must be occurring.
C. additional inputs adds less to total production than the inputs added before.
D. All of these are true.
D. All of these are true.
Economics
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In perfect competition
a. the demand curve facing the firm is a horizontal line at the market price b. marginal revenue equals total revenue c. total revenue always exceeds variable cost d. price always exceeds average total cost e. marginal cost always equals average cost
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What do Keynesian economists believe that the expenditure multiplier is?
a. Less than one b. Equal to one c. Greater than one d. Can be greater or less than one
Economics