?Marginal cost eventually increases as output increases due to the effect of _____.

a. ?constant fixed cost
b. ?economies of scale
c. ?increasing total cost
d. ?diminishing marginal product of inputs
e. ?increasing average cost


Ans: d. ?diminishing marginal product of inputs

Economics

You might also like to view...

How well has the international capital market perform?

What will be an ideal response?

Economics

How sensitive is the structural deficit to the state of the economy?

A. It is insensitive to the state of the economy. B. The structural deficit changes cyclically with the economy. C. Changes in the structural deficit trigger opposite swings in the economy. D. The structural deficit changes countercyclically with the economy.

Economics

Sticky wages occur because:

A. unions often negotiate wages for several years in advance. B. wages can only be changed at the end of contracts, as opposed to final good prices which can change anytime. C. employers must wait until the current contract ends to cut someone's pay. D. All of these are true.

Economics

Keely says that he's glad that his morning coffee is sold in a monopolistically competitive market rather than a purely competitive market. If this is true for most things Keely buys, it suggests that he

A) cares most about allocative efficiency. B) is willing to pay extra for product variety. C) is most concerned about paying the lowest price possible. D) is a creature of habit who always buys the same type of a particular good.

Economics