At the point where diminishing marginal returns set in, the slope of the total product curve is
a. positive and increasing
b. positive and decreasing
c. negative and increasing
d. negative and decreasing
e. constant
B
You might also like to view...
Explain what a black market is and how it functions. What is a black market generally a response to?
What will be an ideal response?
An explicit cost is defined as
A) a nonmonetary accounting cost. B) a cost that involves spending money. C) a nonmonetary opportunity cost. D) a cost that does not change as output changes.
If a manager has determined that a particular piece of capital is likely to increase the cash flow of a business by $10,000 for the next five years, what is the present value of the capital at an interest rate of 10 percent? (Assume that the cash flow first increases one year from today.)
What will be an ideal response?
Figure 17-9
Refer to . Without trade, the equilibrium price of carnations is
a.
$8 and the equilibrium quantity is 300.
b.
$6 and the equilibrium quantity is 200.
c.
$6 and the equilibrium quantity is 400.
d.
$4 and the equilibrium quantity is 500.