As more of an activity is undertaken, it is reasonable to assume that
a. the total benefits will decline.
b. the marginal benefits will decline.
c. the fixed costs will decline.
d. the marginal benefits will increase.
b. the marginal benefits will decline.
You might also like to view...
Which question is an example of a microeconomic question?
A. What should the federal government do to reduce the trade deficit with Japan? B. What factors are contributing to the steep rise in the federal government's total debt? C. Will the merger of two airlines likely lead to higher cost of air travel in the economy? D. Will the inflation rate remain relatively stable this year?
Refer to the figure above. What is the market-wide consumer surplus when the market price of calculators is $6?
A) $20 B) $35 C) $50 D) $70
Medicaid is the most expensive program that the government runs that provides benefits to the poor.
A. True B. False C. Uncertain
The money multiplier is approximated as being equal to:
A. demand deposits multiplied by the reserve ratio. B. one divided by the federal funds. C. demand deposits multiplied by the interest rate. D. one divided by the reserve ratio.