Ceteris paribus,the law of diminishing returns states that beyond some point,the
A) Returns on stocks and bonds diminish with higher security prices.
B) Addition to total utility diminishes as more units of a good are consumed.
C) Marginal physical product of a factor of production diminishes as more of it is employed with a given quantity of other inputs.
D) Output of any good increases as more of a variable input is used.
Correct Answer:
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Q1: The marginal physical product of the third
Q2: The change in total output associated with
Q4: A production function shows
A)How a firm's production
Q5: Which of the following statements is not
Q6: The marginal physical product is the
A)Change in
Q7: Technical efficiency is achieved when a firm
Q8: Which of the following is a factor
Q9: The marginal physical product of labor in
Q10: Which of the following are factors of
Q11: In Figure 21.1,diminishing marginal returns first occur
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