
After hiring three new employees, a manager sees that total output increases. If the manager hires two additional employees and discovers total output has fallen, the result is due to
A) diseconomies of scale.
B) a poor hiring procedure.
C) diminishing marginal returns.
D) the lack of skills of newest employees-the best workers are hired first.
E) economies of scale.
Correct Answer:
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Q1: Q3: Q5: Labor, land, and capital used in production Q6: Marginal total cost is the Q7: As output rises unit by unit, costs Q8: Marginal cost (MC) is equal to average Q9: Average total cost is the Q10: Total cost is the cost of Q11: Economic goods and services produced by business Q32: The below figure shows the various combinations
A) cost of
A) cost of
A) land
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