When fertilizer yields diminishing returns in the production of potatoes,
A) output increases only if fertilizer input is increased.
B) additional fertilizer causes decreased production.
C) doubling fertilizer input less than doubles output.
D) marginal cost decreases as more fertilizer is added.
E) doubling fertilizer input more than doubles output.
Correct Answer:
Verified
Q65: Variable costs are generally associated with the
Q66: Variable costs are those that
A)vary with output.
B)are
Q67: Costs that do not vary with output
Q68: The slope of the total cost curve
Q69: Total costs are
A)variable costs plus average cost.
B)marginal
Q71: When production increases, total costs
A)can increase or
Q72: The slope of the supply curve reflects
Q73: Because marginal product decreases as input is
Q74: Marginal cost is
A)the change in total cost
Q75: The total cost curve
A)has a positive slope
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