When a firm is experiencing decreasing marginal costs, it implies
a. marginal productivity is decreasing
b. workers are getting more unproductive
c. a constant marginal productivity
d. increasing marginal productivity
d
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The term "market" in economics refers to
A) a group of buyers and sellers of a product and the arrangement by which they come together to trade. B) a legal institution where exchange can take place. C) an organization which sells goods and services. D) a place where money changes hands.
Which of the following addresses agency costs
a. spot checks of the quality of employee work b. hiring only from job fairs c. instituting longer work days d. reducing the number of holidays
A tax is regressive if it collects a:
A. larger amount as income rises. B. constant amount as income rises. C. smaller fraction of income as income falls. D. smaller fraction of income as income rises.
Which one of the following statements is TRUE?
A. Over the years, real consumption spending has been more volatile than real investment spending. B. Over the years, real investment spending has been more volatile than real consumption spending. C. In the Keynesian model, changes in the volume of real investment spending are fully explained by changes in the real interest rate. D. Domestic real investment in the United States was highest during the Great Depression.