The ________ in output due to each additional unit of a factor of production is ________ when other factors are held constant
A) increase; smaller B) decrease; larger C) increase; larger D) decrease; smaller
A
Economics
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"Water is very inexpensive. Thus the marginal and total utility of water is small." Analyze the previous statements
What will be an ideal response?
Economics
The four largest firms in an industry account for the following value of industry sales: 12 percent, 8 percent, 5 percent and 4 percent. Calculate the four-firm concentration ratio. Would this industry be regarded as competitive or concentrated?
What will be an ideal response?
Economics