Question: true and false with explanation For the following, please answer True or False and explain why. (A) The Law of Diminishing Marginal Returns could also
true and false with explanation

For the following, please answer "True" or "False" and explain why. (A) The "Law of Diminishing Marginal Returns" could also be termed the "Law of Increasing Marginal Costs." [4 points] (B) Unlike indifference curves, isoquants can intersect. [3 points] (C) If a firm doesn't make an economic profit, it will shut down. [3 points] (D). If a firm sets marginal revenue equal to marginal cost, it will make an economic profit. [3 points]
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
