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Author Question: When there are diminishing marginal returns to labor, the marginal product of the last worker hired ... (Read 150 times)

TFauchery

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on: Jun 29, 2018
When there are diminishing marginal returns to labor, the marginal product of the last worker hired must be negative.
 
  Indicate whether the statement is true or false

Question 2

The Loma Linda City Council made it official in June 2008, passing the most restrictive smoking ordinance yet in the Inland area. Dr. Linda Ferry, who counsels veterans on quitting smoking at Jerry L.
 
  Pettis Memorial VA Medical Center, said that the smoking ordinance would protect children from exposure to secondhand smoke and discourage teenagers and adults from taking up smoking. What is TRUE about this situation? A) Marginal external costs are negative.
  B) Marginal external benefits are positive.
  C) Marginal external costs are positive.
  D) Marginal external benefits are negative.


wtf444

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Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

C


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