The economist who was concerned that human misery would result from unlimited population growth when food supply was subject to diminishing returns was:
A) David Ricardo
B) Adam Smith
C) Karl Marx
D) Thomas Malthus
Correct Answer:
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Q35: Which of the following is not a
Q36: The formula for average fixed costs is:
A)
Q37: Diminishing marginal returns implies:
A) decreasing average fixed
Q38: A firm is producing 100 units, which
Q39: A firm calculates that if it produces
Q41: If marginal cost is increasing and is
Q42: The law of diminishing returns:
A) applies only
Q43: Advances in logistics allow firms to decrease
Q44: The law of diminishing returns applies when:
A)
Q45: Which of the following is not a
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