At the output rate at which diminishing marginal product begins, a firm will experience
A. increasing marginal costs.
B. constant average total costs.
C. increasing average fixed costs.
D. decreasing average variable costs.
Answer: A
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Refer to Table 8-30. Based on the table above, what is personal income for this economy?
A) $1,950 billion B) $2,030 billion C) $2,450 billion D) $5,130 billion
Assume that Michael is interested in buying a lawn mower. Right now, interest rates are very high, but he believes they will soon start to fall. If Michael purchases the lawn mower today, we know that
a. he was concerned about future inflation. b. the current inflation rate was low. c. he paid an inflationary premium. d. he had a strong, positive rate of time preference.
Which of the following is not a weakness of fiscal policy?
What will be an ideal response?
A government policy to build bridges and dams is an example of a policy to promote economic growth by:
A. improving the social and legal environment B. improving technology. C. increasing physical capital. D. increasing human capital.