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Author Question: In the short run, why does a production function eventually display diminishing returns to labor? ... (Read 98 times)

dmcintosh

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on: Jun 29, 2018
In the short run, why does a production function eventually display diminishing returns to labor?
 
  A) As a firm hires more workers the skills and the work ethic of the additional workers will eventually decline.
  B) The opportunity cost of hiring additional workers must eventually rise.
  C) As the number of workers increases eventually the gains from the division of labor and specialization are used up.
  D) As the number of workers increases it becomes difficult to monitor them.

Question 2

A monopolistically competitive firm is producing an output level where marginal revenue is greater than marginal cost. What should this firm do to increase its profit or reduce its losses?
 
  A) The firm should increase its implicit costs. B) The firm should lower its price.
  C) The firm should decrease its fixed costs. D) The firm should raise its price.
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HandsomeMarc

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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dmcintosh

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

scikid

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Reply 3 on: Yesterday
:D TYSM

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