When more and more units of a variable factor are combined with constant amount of fixed factor,such that the variable factor becomes abundant compared to the fixed factor,the output will eventually:
A) increase at an increasing rate.
B) increase at a diminishing rate.
C) increase at a constant rate.
D) remain unchanged.
E) fall to zero.
Correct Answer:
Verified
Q1: Marginal cost equals:
A)total cost divided by total
Q1: The below figure shows the various combinations
Q4: Diminishing marginal returns means that as you
Q5: Fixed costs are costs paid for:
A)plant,equipment,and land
Q7: If labor is the only variable input,an
Q9: If a firm is experiencing diminishing returns,then:
A)the
Q10: The law of diminishing returns applies:
A)in the
Q11: Marginal fixed cost:
A)is a positive constant irrespective
Q13: The below figure shows the various combinations
Q17: The below figure shows the various combinations
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents