Multiple Choice
Which of the following statements describes the presence of diminishing returns? All else equal,
A) Marginal product curve is constant
B) Marginal product curve is falling and negative
C) Marginal product curve is positive and rising
D) Marginal product curve is positive and falling
Correct Answer:
Verified
Correct Answer:
Verified
Q2: It costs a firm $80 per unit
Q3: When a firm is experiencing decreasing marginal
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
Q8: The ability to lower the average costs
Q9: Diminishing marginal returns occur because<br>A)All inputs are
Q11: In any production process the marginal product
Q36: Marginal productivity is<br>A)The total output associated with
Q45: When there are economies of scale,<br>A)per-unit costs