Ceteris paribus,the law of diminishing returns states that beyond some point the:
A) Return on stocks and bonds diminish as more are purchased.
B) Addition to total utility declines as more units are consumed.
C) Marginal physical product of a variable input declines as more of it is used.
D) Output of any good or service increases as more variable input is used.
Correct Answer:
Verified
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
Q17: The law of diminishing returns means that:
A)
Q18: Which of the following is a factor
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
Q23: Which of the following will always increase
Q24: A firm can be identified as profitable
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