If diminishing marginal returns is in effect
A) marginal costs fall.
B) marginal costs rise.
C) average costs fall.
D) average revenue is constant.
B
You might also like to view...
A firm's demand for labor increases and its demand curve for labor shifts rightward if
A) the wage rate falls. B) the price of its product falls. C) its value of marginal product decreases. D) an advance in technology increases the marginal product of labor.
In the above figure, at the best affordable point, the marginal rate of substitution is
A) 0.5 of a hamburger per magazine. B) 1 hamburger per magazine. C) 1.33 hamburgers per magazine. D) 8 hamburgers per magazine.
Combinations in restraint of trade are prohibited by
A. the Sherman Act. B. The Clayton Act. C. the Federal Trade Commission Act.
A tariff, unlike a __________, provides revenues to the government.
Fill in the blank(s) with the appropriate word(s).