Exhibit 7-4 A marginal product curve
As shown in Exhibit 7-4, the law of diminishing returns applies in the range of:

A. over 1 workers per day.
B. over 3 workers per day.
C. between 0 and 3 workers per day.
D. between 0 and 5 workers per day.

Answer: B

Economics

You might also like to view...

Under the Bretton Woods system, central bankers could obtain foreign currency loans from the

A) Bank of England. B) U.S. Treasury Department. C) International Monetary Fund. D) World Trade Organization.

Economics

The "per se" standard makes antitrust action less likely than would the "rule of reason"

Indicate whether the statement is true or false

Economics