Answer to Question 1
The law of diminishing returns says that when additional units of a variable input are added to fixed inputs after a certain point, the marginal product of the variable input declines.
Answer to Question 2
Patent laws are necessary to promote innovation. Without such laws an inventor might spend countless hours and a great deal of money developing a new product, put the product out into the market only to have a competitor copy it without incurring any of the time or costs to develop it. In the long run, this prospect would serve as a mighty disincentive to innovate and so would drastically reduce the supply of new products that come into the market.
The strange situation. The Strange Situation features a series of episodes in which (a) the mother l
E9-23 Prepare income statements Explain the difference in operating income
Please fully explain in detail
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
Explain the assumptions that must be satisfied in order to validly use the one-way ANOVA ...
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately