Author Question: A firm's total product curve shows A) that inefficiency is not possible. B) how the cost of the ... (Read 181 times)

Anajune7 · **on:** Jun 29, 2018

A firm's total product curve shows

A) that inefficiency is not possible.
B) how the cost of the fixed resources change when output changes.
C) how the amount of output changes when the quantity of labor changes.
D) that in the long run the firm must adjust the quantity of all the resources it employs.

Question 2

The principle of diminishing marginal utility can be used to explain why

A) Bob's second soda is less enjoyable than his first soda.
B) Bob's first soda is less enjoyable than his second soda.
C) Charlie enjoys his fourth soda less than Bob enjoys his first.
D) Bob enjoys his first soda more than Charlie enjoys his fourth.