Multiple Choice
Phil found that as he continued to crowd laborers into his hot dog stand, the extra output he was receiving from each additional laborer was beginning to fall off. This is an example of the
A) law of increasing opportunities.
B) law of demand.
C) law of diminishing marginal utility.
D) law of diminishing product.
Correct Answer:

Verified
Correct Answer:
Verified
Q47: Suppose the manager of a restaurant notices
Q48: If the marginal product curve is intersecting
Q49: For a wheat farmer in the middle
Q50: If the firm can vary all factors
Q51: Due to extremely large fixed costs, an
Q53: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q54: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q55: Total product will start to decrease<br>A) at
Q56: Which of the following is NOT a
Q57: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Use the above