Which of the following statements describes the presence of diminishing returns. Holding at least one factor constant …....
A) The marginal product of a factor is positive and rising.
B) The marginal product of a factor is positive but falling.
C) The marginal product of a factor is falling and negative.
D) The marginal product of a factor is constant.
Correct Answer:
Verified
Q2: Which of the following statements describes increasing
Q3: Economies of scale exist if:
A)As the amount
Q4: The total product curve may initially show
Q5: If labour is the only variable resource
Q6: When both average and total product are
Q7: Costs incurred only when production occurs are
Q8: Which of the following is irrelevant for
Q9: Diminishing marginal returns are most compatible with:
A)Economies
Q10: In economic theory the costs of a
Q11: The short run as the term is
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