Multiple Choice
Which of the following is consistent with diminishing marginal returns?
A) increasing labor by 10% and output increasing 10%.
B) increasing labor by 10% and output prices increase by less than 10%.
C) increasing labor by 10% and the marginal product of labor increasing 10%.
D) increasing labor by 10% and output increasing by less than 10%.
Correct Answer:
Verified
Correct Answer:
Verified
Q20: In the classical model,and increase in tax
Q21: In the classical model,the factors determining output
Q22: In the classical model,a decrease in immigration
Q23: The classical model is a model in
Q24: If a natural disaster destroys some of
Q26: In the classical model,the supply-determined nature of
Q27: With respect to an auction market,<br>A)labor and
Q28: Which of the following statements is correct?
Q29: Which of the following is not consistent
Q30: Briefly define an endogenous variable and an