The principle that states the marginal product of an input decreases as the quantity of the input increases is called:
A. total product optimization.
B. increasing rate of return.
C. production function.
D. diminishing marginal product.
Answer: D
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When stock prices fall
A) an individual's wealth is not affected nor is their willingness to spend. B) a business firm will be more likely to sell stock to finance investment spending. C) an individual's wealth may decrease but their willingness to spend is not affected. D) an individual's wealth may decrease and their willingness to spend may decrease.
The Internet has created some special problems of intellectual property. One problem is that the
a. Internet is a monopoly, so the price of intellectual property exceeds marginal cost b. Internet market has not yet reached equilibrium c. property that can be downloaded, modified, and then re-sold d. marginal cost of enforcing property rights exceeds the marginal benefit e. price of intellectual property usually exceeds the marginal benefit
A binding minimum wage may not help all workers, but it does not hurt any workers
a. True b. False Indicate whether the statement is true or false
A bank has $100,000 in checkable deposits and $30,000 in reserves. If the required reserve ratio is 10%, what is the amount of required reserves?
A) $0 B) $10,000 C) $20,00 D) $30,000