Diminishing marginal returns are most compatible with:
A) economies of scale.
B) advantages from specialization.
C) positively-sloped marginal cost curves
D) depreciation of the capital stock.
Correct Answer:
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Q2: If labour is the only variable resource
Q3: When both average and total product are
Q4: Costs incurred only when production occurs are
Q5: The law of diminishing marginal returns is
Q6: Which of the following is irrelevant for
Q8: If average variable costs fall as output
Q9: In economic theory the costs of a
Q10: The average total costs of the firm
Q11: The short run as the term is
Q12: According to the principle of diminishing marginal
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