Refer to the table above. Diminishing marginal returns sets in when:
A) the second worker is hired.
B) the fourth worker is hired.
C) the fifth worker is hired.
D) the seventh worker is hired.
B
Economics
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A profit-maximizing monopolistic competitor continues production until ________
A) marginal revenue exceeds marginal cost B) marginal revenue equals marginal cost C) marginal revenue exceeds average revenue D) marginal revenue equals average revenue
Economics
A perfectly competitive firm has the cost function TC = 1000 + 2Q + 0.1 Q2. What is the lowest price at which this firm can break even?
What will be an ideal response?
Economics