Once we enter the region of diminishing returns, total variable cost
A. decreases at a decreasing rate.
B. decreases at an increasing rate.
C. increases at a decreasing rate.
D. increases at an increasing rate.
Answer: D
You might also like to view...
Higher relative wages for labor tends to
A) increase the supply of labor. B) decrease the demand for labor. C) encourage firms to find substitutes, such as automation. D) accomplish all of the above.
Which of the following statements about natural monopolies is true?
A) Natural monopolies are only found in the markets for natural resources (like crude oil and coal). B) For natural monopolies, marginal cost is always below average cost. C) For natural monopolies, average cost is always increasing. D) Natural monopolies cannot be regulated.
Inventory reductions are a signal indicating that
a. the economy is close to disaster. b. the Dow Jones Industrial Average will fall. c. manufacturers need to increase production. d. All of the above are true.
A bank has $200 million in assets and $230 million in liabilities. The bank's net worth is _____________ million and the bank is ____________
A) -$215; insolvent B) -$30; insolvent C) $15; solvent D) $30; solvent