According to the principle of diminishing returns, if all factors of production but one are held constant and if that one factor is doubled, then eventually output will most likely
A) double too. B) more than double.
C) less than double. D) remain unchanged.
C
You might also like to view...
?Consider a market for cookies that is initially in equilibrium. For a given upward-sloping supply curve, the equilibrium price and equilibrium quantity of cookies is most likely to decline when:
A) the price of milk, a complement, increases. B) consumer income increases. C) the number of consumers increases. D) the price of coffee, a complement, decreases. E) price of crackers, a substitute, increases.
Consumers regard Dell computers and Apple computers as substitutes. If the price of a Dell computer decreases, the
A) demand for Dell computers increases. B) demand for Apple computers increases. C) demand for Apple computers decreases. D) supply of Dell computers increases. E) demand for Dell computers decreases.
The stock of unused goods held by a firm is called a(n):
a. depreciation. b. supplement. c. deadweight loss. d. excess capacity. e. inventory.
Consider the following ratio: the average annual inflation rate/the average annual money growth rate. If a country's rate of money growth consistently exceeds the rate of inflation the ratio would be:
A. less than one. B. exactly one. C. that is infinite. D. greater than one.