If a firm is experiencing diminishing marginal returns to labor, then
a. total output must be decreasing
b. total output rises more slowly as additional workers are added
c. the firm must decrease the amount of labor it hires
d. total output per worker must be rising
e. the firm must be operating in the long run
B
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An increase in capital brings a large increase in output at a ________ quantity of capital and a small increase in output at a ________ quantity of capital because of ________
A) large; small; the greater the quantity of capital the greater the output B) small; large; diminishing returns along the productivity curve C) large; small; diminishing returns along the productivity curve D) small; large; increasing returns along the productivity curve E) large; small; increasing returns along the productivity curve
When the quantity of money supplied equals the quantity of money demanded, then
A. the money market is in equilibrium. B. the goods market is in equilibrium. C. the money market is not in equilibrium. D. the asset market is in equilibrium.