The law of diminishing returns predicts that
A) total output will fall.
B) marginal output will fall.
C) total output will rise.
D) marginal output will rise.
Correct Answer:
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Q137: Statement I: There are tremendous economies of
Q138: As output expands,
A)increasing returns will follow diminishing
Q139: When MC is falling,ATC and AVC
A)must be
Q140: Statement I: The marginal cost curve crosses
Q141: When MC is rising,AVC
A)must be rising.
B)must be
Q143: Suppose you owned a 40-acre farm and
Q144: If a firm that has total revenue
Q145: When AVC is falling,ATC
A)must be rising.
B)must be
Q146: When the production function is at its
Q147: Each of the following is a variable
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