Marginal product:
A. diminishes at all levels of production.
B. may initially increase, then diminish, but never become negative.
C. may initially increase, then diminish, and ultimately become negative.
D. is always less than average product.
Answer: C
You might also like to view...
The open economy effect suggests that
A) a decrease in domestic price level will cause foreign residents to buy more domestic goods, increasing net exports. B) a rise in domestic price level will cause domestic residents to buy fewer imported goods. C) a rise in domestic price level will cause foreign residents to buy more domestic goods. D) a decrease in domestic price level will cause foreign residents to buy fewer domestic goods, increasing net exports.
If you study 3 hours for an exam, you can raise your score by 30 points. If you study for another 3 hours your score increases by 10 points. And if you study for another 3 hours, your score will increase by 5 more points
A graph displaying this relationship between the number of hours studied and your total exam score would show A) a positive linear relationship B) an upward-sloping curve that becomes less stee
Jason is a single father with two children who is eligible for welfare. He can work as a cashier at a grocery store for $6 per hour up to 1,200 hours per year. If Jason does not earn any income, he will receive $15,000 a year in welfare. If Jason works, the government will deduct 60 cents from his welfare stipend for every $1 that he earns in income. Given this policy, what will be Jason’s income is he works 600 hours during the year?
a. $3,600 b. $16,440 c. $15,000 d. $12,840
If the food stamp program in the United States moved from coupons redeemable for food to cash payments,
A) everyone would buy less food and more of other goods. B) everyone would buy more food and less of other goods. C) some people might buy less food and obtain a higher level of utility. D) some people might buy less food and obtain a lower level of utility.