In general, which of the following implies that a marginal cost curve will eventually increase as a firm produces more output?
A. A production function displaying increasing returns to scale
B. The law of equimarginal returns
C. Profit maximizing behavior by the firm
D. The law of diminishing returns
Answer: D
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A) higher; lower B) higher; higher C) lower; lower D) None of the above.
Advocates of the public-choice view argue that voting behavior is influenced by the
a. rate of inflation prior to an election. b. level of economic activity. c. "favorite son" syndrome. d. campaign issues.
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A company office can be thought of as
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