Solved

As a Result of Severe Flooding,a Farmer Loses Half of His

Question 33

Multiple Choice

As a result of severe flooding,a farmer loses half of his productive farmland.If the property of diminishing returns applies to all factors of production,he should expect to see


A) an increase in the marginal productivity of his remaining land and an increase in the marginal productivity of his labor.
B) an increase in the marginal productivity of his remaining land and a decrease in the marginal productivity of his labor.
C) a decrease in the marginal productivity of his remaining land and an increase in the marginal productivity of his labor.
D) a decrease in the marginal productivity of his remaining land and a decrease in the marginal productivity of his labor.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions