Because of diminishing returns, a factor in relatively low supply has a
a. low marginal product and a low rental price.
b. low marginal product and a high rental price.
c. high marginal product and a low rental price.
d. high marginal product and a high rental price.
d
Economics
You might also like to view...
Which of the following correctly identifies the trade-off that a budget constraint represents?
A) The amount of one good that has to be given up to purchase an additional unit of the other good B) The optimum combination of goods that a consumer with a given income should purchase C) The maximum amount of two goods that a consumer can purchase given his income D) The amount of income that must be given up to obtain an additional unit of a good
Economics
A risk averse person will always buy insurance against risk
Indicate whether the statement is true or false
Economics