The law of diminishing returns means that:
A) The total product production function will eventually increase at a decreasing rate.
B) The marginal product will increase at an increasing rate.
C) Average total costs are rising and then falling as output is increased.
D) Average fixed cost will fall as production increases.
Correct Answer:
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Q12: The law of diminishing returns can explain
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Q14: Land,labor,capital and entrepreneurship are called:
A) Factors of
Q15: Which of the following are factors of
Q16: The law of diminishing returns indicates that
Q18: Which of the following is a factor
Q19: Ceteris paribus,the law of diminishing returns states
Q20: Which of the following statements concerning the
Q21: Total revenue minus total cost equals:
A) Profit.
B)
Q22: Which of the following is equivalent to
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