This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a particular production process is subject to diminishing marginal returns to labor at every ... (Read 60 times)

cherise1989

  • Hero Member
  • *****
  • Posts: 555
on: Jul 1, 2018
If a particular production process is subject to diminishing marginal returns to labor at every level of output, then at every level of output
 
  A) AC is upward sloping.
  B) MC exceeds AVC.
  C) AFC is constant.
  D) All of the above.

Question 2

Which of the following is true about a monopoly?
 
  A) Its demand curve is generally less elastic than in more competitive markets.
  B) It will always earn economic profit.
  C) It will always produce the same as a perfectly competitive firm.
  D) It will always be subject to government regulation.
  E) None of the above is true.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lorealeza77

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


cherise1989

  • Member
  • Posts: 555
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

tanna.moeller

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Critical thinking and the process of planning care Critical thinking and the process of planning care
Block Diagram of a High Concentrate Nitric Acid System for Dual-Stage Pressure Production of Nitric Block Diagram of a High Concentrate Nitric Acid System for Dual-Stage Pressure Production of Nitric
The diminishing effects on body weight of a low-calorie diet and a high-calorie diet. The diminishing effects on body weight of a low-calorie diet and a high-calorie diet.
Conventional oil reserves have passed peak production Conventional oil reserves have passed peak production
The Collision-Coalescence Process The Collision-Coalescence Process
The Process of Sperm Formation The Process of Sperm Formation
Video: Bone cells and tissues - tissue composition and cells

For a complete list of videos, visit our video library