The law of diminishing marginal returns says that as the firm uses more of ________, with a given quantity of ________, the ________ product of the variable input eventually diminishes.
A) a fixed input; variable inputs; marginal
B) all inputs; capital; average
C) a variable input; fixed inputs; average
D) a variable input; fixed inputs; marginal
Question 2
An example of the principal-agent problem is when
A) managers try to cope with employees that are inefficient.
B) proprietors don't receive any money payment for their entrepreneurial skills.
C) managers devise penalties that eliminate employee waste.
D) managers devise incentives that encourage employees to act in the owner's behalf.
A graphical representation of the marginal value theorem.
One-handed kneading. Tissues are lifted with the whole hand in firm contact.
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Firm handshake
A Production Function with Diminishing Marginal Product of Capital