As more labor is hired in the short run, diminishing returns are observed because:
A. The new workers are lazy.
B. The new workers have less capital and land to work with.
C. All the workers begin to socialize more and work less.
D. The new workers are less skilled.
Answer: B. The new workers have less capital and land to work with.
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Refer to Figure 3.1. If Marge and Homer both confess to the crime, what is Marge's payout?
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(a) lack of program focus on the needs of the country. (b) increasing returns to scale in each individual's education. (c) graduates get jobs in the private sector. (d) all of the above.