According to the principle of diminishing returns, an additional worker decreases total output.
Answer the following statement true (T) or false (F)
False
Economics
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Which of the following is the long-run outcome for monopolistic competition?
A) MR > MC. B) P > ATC > MC. C) P = ATC. D) P > ATC.
Economics
Which of the following countries had the highest percentage of young adults with a college degree in 2012?
a. Norway b. Canada c. Japan d. France e. Italy
Economics
The transactions approach to measuring money includes
A. the value of shares of stock in commercial banks. B. traveler's checks. C. government bonds. D. all of these.
Economics
Using the above table, the average product and marginal product when 4 workers are employed are
A. 13 and 13, respectively. B. 14 and 13, respectively. C. 13 and 9, respectively. D. 13 and 14, respectively.
Economics