The nineteenth-century British economist Thomas Malthus argued that the law of diminishing returns implied that
A) Capital would increase relative to labor
B) Technological change would grow at an increasing pace
C) Eventual misery would befall the human race
D) Raw materials would eventually run out
Correct Answer:
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Q1: The law of diminishing returns to an
Q2: In a short-run production function before diminishing
Q3: In a value added production function like
Q4: If equal amounts of a variable input
Q5: The marginal product of a variable input
Q6: Geometrically, the average product
A)Is the slope of
Q7: If capital and labor are perfect substitutes
Q8: In a typical short-run production function, before
Q10: The short run is defined as that
Q12: Which is true?
A)Production functions consider only the
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