The law of diminishing marginal product is a reason why the demand curve for labor is downward sloping
a. True
b. False
Indicate whether the statement is true or false
True
Economics
You might also like to view...
Which of the following actions is most likely to cause a rightward shift in a production possibilities curve [PPC]?
a. Shifting from the production of one product to the production of another product b. Shifting all resources to the production of one product c. Employing idle resources d. Using fewer resources in production e. Increasing the technological know-how used in production
Economics
"The short-run average total cost curve and the long-run average cost curve are both U-shaped for the same reasons." Do you agree or disagree? Why?
What will be an ideal response?
Economics