The rule that states that as a firm uses more of a variable resource with a fixed resource and fixed technology the additional, or extra, output will fall is known as
A) The law of substantiated return
B) The law of diminishing total product
C) The law of diminishing marginal product
D) The law of increasing marginal product
Correct Answer:
Verified
Q3: Which of the following is true about
Q4: _ is the acquired skills and knowledge
Q5: A production function can be explained as
A)The
Q6: This represents the demand curve for labor.
A)The
Q7: This is determined by the productivity of
Q9: Of the following which is not a
Q10: The sum of a product produced in
Q11: Use the graph to answer questions
Q12: Marginal product of labor is
A)The total output
Q13: The wage is $10 per hour.What is
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