The law of diminishing marginal returns
A) holds only in the long run.
B) applies only to small-and medium-sized firms.
C) holds both in the short run and in the long run.
D) applies only to large firms.
E) holds only in the short run.
Correct Answer:
Verified
Q1: To produce 150 units of output,the firm
Q3: A variable factor of production
A) is fixed
Q4: Profit is the
A) difference between total revenue
Q5: The reason for the existence of the
Q6: Which of the following factors of production
Q7: Which of the following factors of production
Q8: Profit maximization is the primary objective of
A)
Q9: As long as the marginal product of
Q10: A profit-maximizing price taker must decide
A) only
Q11: The short run is defined as
A) one
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents