The "Law of Diminishing Marginal Returns" could also be termed the "Law of Increasing Marginal Costs."
Indicate whether the statement is true or false
True . Since MC = w/MPL in the short run, the fact that MPL eventually declines means that MC must eventually increase.
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Giving managers an ownership stake in a company is an example of
A) a command system. B) an incentive system. C) a system that encourages managers to become agents that monitor their principals. D) economies of scope.
Suppose Motorland's government imposes a tax of $1.50 per gallon of gasoline sold. With the tax, when the market is in equilibrium, the deadweight loss is
A) zero. B) $37,500 per month. C) $150,000 per month. D) $75,000 per month.
When the price of good X rises, the demand for good Y rises. Explain what this relationship implies about the two goods
What will be an ideal response?
What is fiscal policy, who makes it, and what is it designed to influence?
What will be an ideal response?