Multiple Choice
The law of diminishing marginal returns explains why _____
A) monopolies have a guaranteed profit margin.
B) short-run marginal cost and average cost curves are U-shaped.
C) the production possibilities curve is bowed out.
D) long-run supply curves are downward sloping.
E) the total product curve is a straight line.
Correct Answer:
Verified
Correct Answer:
Verified
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