Author Question: Which of the following is consistent with diminishing marginal product? a. The more you study each ... (Read 60 times)

roselinechinyere27m · **on:** Jun 30, 2018

Which of the following is consistent with diminishing marginal product?
a. The more you study each day, the more you learn from each added hour of study.
b. The more you study each day, the less you know.
c. Beyond some point, each added hour studying each day adds less to what you know than the previous hour's study.
d. None of the above.

Question 2

If both demand for and supply of capital increase by equal amounts, then the equilibrium price of capital goes up, and the equilibrium quantity of capital increases.
a. True
b. False
Indicate whether the statement is true or false