Multiple Choice
Diminishing marginal returns to labor means
A) that each additional worker costs more.
B) that each additional worker produces less than the previous worker.
C) that each additional worker costs less.
D) that total product grows at a constant rate when workers are added to production.
Correct Answer:
Verified
Correct Answer:
Verified
Q30: In the knowledge economy<br>A)physical property rights appear
Q31: For patents to be effective<br>A)small networks.<br>B)network externalities
Q32: Increasing returns<br>A)causes marginal cost to remain constant.<br>B)causes
Q33: Dominant firms tend to lag in innovation
Q34: Knowledge has become measurably more important in
Q35: Knowledge workers have<br>A)relatively less bargaining power.<br>B)relatively more
Q36: The value of a network<br>A)is related to
Q38: The information content of a product can
Q39: If increasing returns is in effect<br>A)average costs
Q40: If marginal costs are falling and below