Which of the following is consistent with diminishing marginal product?
a. The more you study each day, the more you learn from each added hour of study
b. The more you study each day, the less you know.
c. Beyond some point, each added hour studying each day adds less to what you know than the previous hour's study.
d. None of the above.
c
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
In a competitive free market:
A) all exchanges take place involuntarily. B) there is only one seller and many buyers. C) the government does not impose price controls. D) there is no provision for the protection of property rights.
When marginal product is negative, the slope of the total product curve must be negative.?
Indicate whether the statement is true or false.
A firm's total revenue can be determined by
A. Total costs minus variable costs. B. Profits minus costs. C. Fixed costs minus quantity. D. Price times quantity.