The law of diminishing returns is a result of the fact that more and more units of a variable input are being added to a fixed input
Because of the limitations imposed by the fixed input, at some point the productivity of additional units of the variable input must decline. Indicate whether the statement is true or false
TRUE
Economics
You might also like to view...
In a market economy, the real power in the market place is held by the
a. producer b. seller c. government d. consumer
Economics
If the Fed increases the discount rate,
A) commercial banks pay a higher interest rate if they borrow from the Fed. B) commercial banks find it more profitable to increase their loans to businesses. C) commercial banks increase their lending to the Fed. D) commercial banks' assets increase. E) commercial banks pay a lower interest rate if they borrow from the Fed.
Economics