All factors of production usually experience:
A. decreasing average variable cost.
B. diminishing marginal productivity.
C. decreasing average fixed costs.
D. diminishing total productivity.
B. diminishing marginal productivity.
Economics
You might also like to view...
If it is impossible to prevent someone from benefiting from a good regardless of whether or not the person paid for it, then the good is
A) nonrival. B) rival. C) nonexcludable. D) excludable.
Economics
Refer to Figure 13-8. At the profit-maximizing output level the firm will
A) earn a profit of $60. B) break even. C) earn a profit of $176. D) earn a profit of $88.
Economics