Multiple Choice
Diminishing marginal returns occur because
A) All inputs are variable in the short-run
B) All inputs are variable in the long-run
C) Some inputs are fixed and some inputs are variable in the short-run
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q4: The average total cost curve<br>A)is downward sloping
Q5: The ability to lower the average costs
Q6: All these curves are U-shaped except<br>A)Average fixed
Q7: Which of the following statements describes the
Q8: The ability to lower the average costs
Q11: In any production process the marginal product
Q13: The marginal cost curve:<br>A)Declines initially as output
Q14: Average costs curves later rise<br>A)Due to declining
Q36: Marginal productivity is<br>A)The total output associated with
Q45: When there are economies of scale,<br>A)per-unit costs