Even if, on average, better-educated individuals can earn more money, all persons with more schooling will not necessarily have higher incomes.
Indicate whether the statement is true or false
Question 2
The situation pictured in Figure 6.3
A) is one of increasing marginal returns to labor.
B) is one of increasing marginal returns to capital.
C) is not consistent with diminishing marginal product of labor or capital.
D) shows constant returns to scale.
E) shows diminishing marginal products of labor and capital.
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