According to the law of diminishing returns a. Production increases at a decreasing rate b. Production...
According to the law of diminishing returns
a. Production increases at a decreasing rate
b. Production increases at a increasing rate
c. Production decreases at a decreasing rate
d. Production decreases at an increasing rate
Homework Answers
Answer
Option a
a. Production increases at a decreasing rate
The fixed part of the input decreases the marginal product of the variable input as the variable input increases is called the diminishing marginal product and the total product is a sum of marginal product where the marginal product decreases so the production increases at decreasing rate.
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According to the law of diminishing returns
a. Production increases at a decreasing rate
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The law of diminishing returns means that Multiple Choice O total product will eventually increase at...
The law of diminishing returns means that Multiple Choice O total product will eventually increase at a decreasing rate as more inputs are employed. O the marginal product will increase at an increasing rate. O average total costs are rising and then falling as output is increased. O average fixed cost will fall as production increases.
28) The law of diminishing returns, as it applies to labor, means that A) the marginal...
28) The law of diminishing returns, as it applies to labor, means that A) the marginal product of labor will eventually be a horizontal line at zero. B) the average product of labor starts to decline before the marginal product of labor. C) total output eventually decreases. D) the average product of labor increases at a decreasing rate. E) the marginal product of labor eventually decreases as more labor is added with capital held fixed. 29) A firm's short-run labor...
The production function 9 = k1.270.5 exhibits: a. increasing returns to scale but no diminishing marginal...
The production function 9 = k1.270.5 exhibits: a. increasing returns to scale but no diminishing marginal productivities. b. decreasing returns to scale. C. increasing returns to scale and diminishing marginal product for / only. d. increasing returns to scale and diminishing marginal products for both k and I.
In order for the law of diminishing returns to be present, we must have a. at...
In order for the law of diminishing returns to be present, we must have a. at least one factor of production to be fixed. b. output decreasing as more laborers are hired. c. the price of labor increasing as more workers are hired. d. simultaneous changes in labor and capital. e. double the output when labor input is doubled.
The production function q = k0.620.5 exhibits: a. increasing returns to scale and diminishing marginal products...
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For a production function with a diminishing, but positive, marginal product of labor: A. Output increases...
For a production function with a diminishing, but positive, marginal product of labor: A. Output increases at an increasing rate as more workers are employed B. Output increases at a decreasing rate as more workers are employed. C. Output declines as more workers are employed. D. The effects on marginal product are unknown.
Average fixed costs: A. are perpetually decreasing as output increases, but at a decreasing rate. B....
Average fixed costs: A. are perpetually decreasing as output increases, but at a decreasing rate. B. are perpetually decreasing as output increases, and at an increasing rate. C. are perpetually increasing as output increases, but at a decreasing rate. D. are perpetually increasing as output increases, and at an increasing rate.
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The slope of the per-worker production function diminishes as the amount of capital per worker increases....
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The law of diminishing returns means that Multiple Choice O total product will eventually increase at a decreasing rate as more inputs are employed. O the marginal product will increase at an increasing rate. O average total costs are rising and then falling as output is increased. O average fixed cost will fall as production increases.
28) The law of diminishing returns, as it applies to labor, means that A) the marginal product of labor will eventually be a horizontal line at zero. B) the average product of labor starts to decline before the marginal product of labor. C) total output eventually decreases. D) the average product of labor increases at a decreasing rate. E) the marginal product of labor eventually decreases as more labor is added with capital held fixed. 29) A firm's short-run labor...
The production function 9 = k1.270.5 exhibits: a. increasing returns to scale but no diminishing marginal productivities. b. decreasing returns to scale. C. increasing returns to scale and diminishing marginal product for / only. d. increasing returns to scale and diminishing marginal products for both k and I.
The production function q = k0.620.5 exhibits: a. increasing returns to scale and diminishing marginal products for both k and 1. b. increasing returns to scale and diminishing marginal product for 1 only. c. increasing returns to scale but no diminishing marginal productivities. d. decreasing returns to scale.
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