The law of diminishing marginal returns occurs when a. some factors of production are fixed, causing increased

Fantastic news! We've Found the answer you've been seeking!

Question:

The law of diminishing marginal returns occurs when

a. some factors of production are fixed, causing increased production to require ever larger increases in the variable factor of production.

b.enough time has passed so that all factors of production can be varied.

c. marginal cost is decreasing.

d.firms hire lazy workers.

Related Book For answer-question

Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

See More Books

Posted Date: Sep 02, 2022 01:46 AM

See More Questions

Economists sometimes "prove" the law of diminishing marginal returns with the following exercise: Suppose that production of steel requires two inputs, labor and capital, and suppose that the...
How does the law of diminishing marginal returns affect a firms demand for labor?
Why do we expect the law of diminishing marginal returns to hold?
Which subject does Corporate social responsibility belong to?
Unified Parcel, Inc. operates a local parcel delivery service. The company keeps detailed records relating to operating costs of trucks, and has found that if a truck is driven 110,000 miles per year...
Lindy Weink, the new controller of LafrenieÌre Company, has reviewed the expected useful lives and residual values of selected depreciable assets at December 31, 2017. (Depreciation for 2017...
Describe under what circumstances a hypothesis test for the difference between two proportions would be performed. Provide an example.
Consider the situation of La Nacin, a hypothetical Latin American country. In 2010, La Nacin was a net debtor to the rest of the world. Assume that all of La Nacins foreign debt was dollar...
You can find the price earning (PE) ratio and yield of Woolworths at the ASX website (https://www2.asx.com.au/markets/company/wow). On the same webpage, you will also find the PE ratio and yield for...
A. Describe some of the attributes of an ideal risk indicator for stock market investors. B. On the Internet, go to Yahoo! Finance (or msn Money) and download weekly price information over the past...
Use Cayley-Hamilton's theorem to evaluate AS-12A+16A +7A-21, given the matrix [3-1 A = 7 -5 -5 1 16 -6 21
Financial statement analysis helps users make better decisions. Explain. How does clientele effect affect dividend policy relevance? Explain.
Answer the next question based on the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 25%. All figures are in millions of dollars. Assets...
What are the key factors in designing resilient urban drainage systems to manage stormwater runoff, and how do these systems adapt to changing climate patterns ?
How do modern techniques for in-situ soil testing improve the reliability of geotechnical investigations, and what impact do they have on foundation design ?
Ruth Lewis is the advertising manager for Sunland Shoe Store. She is currently working on a major promotional campaign. Her ideas include the installation of a new lighting system and increased...
You are a manager at Northern Fibre, which is considering expanding its operations in synthetic fibre manufacturing. Your boss comes into your office, drops a consultant's report on your desk, and...
The Ranch 888 Noodle Company sells two types of dried noodles:ramen, at $6.50 per box, and chow fun, at $7.70 per box. So farthis year, the company has sold a total of 110,096 boxes ofnoodles,...
The following graph shows three market supply curves for cantaloupe. Compared to point A, which point represents a. An increase in quantity supplied? b. An increase in supply? c. A decrease in...
Multiple Choice Questions: 1. If exports increased and imports decreased? a. AD would decrease. b. AD would increase. c. AD would be unaffected. d. AD could either increase or decrease. 2. The...
The expenditures on tires by the Ford Motor Company are not included directly in GDP statistics while consumer expenditures on replacement tires are included. Why?
The load resistor in the NMOS inverter in Figure $16.3(\mathrm{a})$ is $R_{D}=40 \mathrm{k} \Omega$. The circuit is biased at $V_{D D}=3.3 \mathrm{~V}$. (a) Design the transistor...
The inverter circuit in Figure 16.3 (a) is biased at $V_{D D}=3.3 \mathrm{~V}$. Assume the transistor conduction parameter is $K_{n}=50 \mu \mathrm{A} / \mathrm{V}^{2}$. (a) Let \(R_{D}=100...
(a) Redesign the resistive load inverter in Figure 16.3 (a) so that the maximum power dissipation is $0.25 \mathrm{~mW}$ with $V_{D D}=3.3 \mathrm{~V}$ and $v_{O}=0.15 \mathrm{~V}$ when the...

The law of diminishing marginal returns occurs when a. some factors of production are fixed, causing increased

Question:

Expert Answer:

Answer Option a a some factors of production are fixed causing increased produc... View the full answer

Exploring Economics

Students also viewed these economics questions