Which of the following statements describes the presence of diminishing returns? All else equal,
A) Marginal product is constant as output increases
B) Marginal product is falling as output increases
C) Marginal product is rising as output increases
D) Marginal product is zero
Correct Answer:
Verified
Q2: A rising average cost implies that
A)marginal cost
Q3: The law of diminishing marginal productivity states
Q4: When a firm is experiencing increasing marginal
Q5: Average costs_ initially due to the presence
Q6: A falling average cost implies that
A)marginal cost
Q7: Average costs curves initially fall
A)Due to declining
Q8: Diminishing marginal productivity implies
A)decreasing marginal costs
B)increasing marginal
Q9: If marginal costs fall below average cost,average
Q10: Average costs _initially due to the presence
Q11: Marginal productivity is
A)The total output associated with
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