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Author Question: The law of diminishing returns implies that, with the quantity of capital fixed, as the use of labor ... (Read 62 times)

karateprodigy

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on: Jun 29, 2018
The law of diminishing returns implies that, with the quantity of capital fixed, as the use of labor rises
 
  A) total product will fall eventually.
  B) the marginal product of labor will fall eventually.
  C) the total product of labor will fall below the marginal product of labor.
  D) the production process will become technologically inefficient eventually.

Question 2

An expansion of the production possibilities frontier is
 
  A) called economic growth.
  B) proof that scarcity is not a binding constraint.
  C) a free gift of nature.
  D) something that has occurred only rarely in history.


kkenney

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

B

Answer to Question 2

A


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karateprodigy

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Reply #2 on: Jun 29, 2018
Thank you :)


kkenney

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Reply #3 on: Jun 29, 2018
Happy to help you


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