When diminishing returns are present,
a. total output increases at an increasing rate
b. total output begins to decrease
c. the marginal physical product curve begins to rise
d. total output increases at a decreasing rate
e. it's an indication that the firm is using too much labor
D
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In the current U.S. economy, who plays the role of lender of last resort?
A) The Securities and Exchange Commission B) The Federal Deposit Insurance Corporation C) The Federal Reserve System D) The Social Security Administration
The U.S. Department of Health and Human Services refused to allow waivers to individual states to amend the provisions of the Family Support Act
Indicate whether the statement is true or false
If production is given by Q = KL, doubling both inputs
a. more than doubles output. b. exactly doubles output. c. increases output but does not double it. d. leaves output unchanged.
Aggregate demand:
A. Refers to the collective behavior of all buyers. B. Reflects the total quantity of output produced. C. Increases when the price level increases. D. Is influenced directly by aggregate supply.