Author Question: The law of diminishing returns assumes that A) there is at least one fixed input. B) all inputs ... (Read 48 times)

amal · **on:** Jul 1, 2018

The law of diminishing returns assumes that

A) there is at least one fixed input.
B) all inputs are changed by the same percentage.
C) additional inputs are added in smaller and smaller increments.
D) all inputs are held constant.

Question 2

A local retailer has decided to carry a well-known brand of shampoo. The marketing department tells them that the quarterly demand by an average man is: Qd = 3 - 0.25P and the quarterly demand by an average woman is: Qd = 4 - 0.

5P The market consists of 10,000 men and 10,000 women. How may bottles of shampoo can they expect to sell if they charge 6 per bottle? A) 20,000
B) 33,000
C) 25,000
D) 10,000
E) none of the above