The Malthusian dilemma relates to marginal product in that
A) starvation can be averted only if marginal product is constant.
B) because of diminishing marginal product, the amount of food produced by each additional member of the population increases.
C) because of diminishing marginal product, the amount of food produced by each additional member of the population decreases.
D) because of diminishing marginal product, the wage falls as the population decreases.
E) because of diminishing average product, the population will not have additional capital to work with.
C
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The figure above shows the demand and cost curves for a single-price monopoly. The firm's economic profit equals
A) $0. B) $300. C) $100. D) $50.
It is possible for the dollar to appreciate against the Japanese yen while depreciating against the British pound
a. True b. False Indicate whether the statement is true or false
Increases in the price of imported oil in 2011 led to a leftward shift of the aggregate supply curve
a. True b. False Indicate whether the statement is true or false
The decline in investment spending accounts for how much of the decline in output during a recession?
a) one-third b) one-seventh c) two-sevenths d) two-thirds