The law of diminishing marginal returns results in average total cost eventually
A. decreasing at an increasing rate.
B. increasing at an increasing rate.
C. decreasing at a decreasing rate.
D. increasing at a decreasing rate
Answer: B
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"Housing starts" is __________ indicator
A) a leading B) a coincident C) a lagging D) an inconsistent
Inflation: a. always reduces real income
b. never reduces real income. c. reduces the real income of workers when wages increase more than prices do. d. reduces the real income of workers when wages increase less than prices do. e. increases the real income of workers only when wages increase less than prices do.
An investment grows from $2,000 to $2,750 over the period of 10 years. What average annual growth rate will produce this result?
What will be an ideal response?
Refer to the information provided in Table 8.1 below to answer the question(s) that follow.
Table 8.1 
Refer to Table 8.1. Assume the price of labor (L) is $5 per unit, the price of capital (K) is $10 per unit, and that firms attempt to minimize costs. The total variable cost of producing one unit of output is
A. $16. B. $100. C. $120. D. $220.