Diminishing marginal product occurs when
a. the increases to total output are declining.
b. marginal product is negative.
c. total output is decreasing.
d. All of the above are correct.
a
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What is fiscal federalism?
What will be an ideal response?
Limit commitment occurs when
A) collateral is required to get a loan. B) one cannot borrow as much as necessary to conduct business. C) one cannot be forced to repay a loan. D) the bank can sell your loan to another bank.
Market failure can result from market outcomes that:
a. result in too few resources devoted to a good. b. result in too many resources devoted to a good. c. may justify government intervention. d. all of these.
If exports and imports both fell, but exports fell less than imports, a. AD would decrease
b. AD would increase. c. AD would be unaffected. d. AD could either increase or decrease.