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Author Question: Based on the above figure, at which level of output does diminishing marginal returns first occur at ... (Read 69 times)

james

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on: Jun 29, 2018
Based on the above figure, at which level of output does diminishing marginal returns first occur at Ike's Ice Cream Kitchen?
 
  A) at 0 gallons
  B) at 10 gallons
  C) at 40 gallons
  D) at 60 gallons

Question 2

Farm subsidies in the European Union spill over to the rest of the world. Explain this assertion.
 
  What will be an ideal response?


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TheNamesImani

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Farm subsidies in the European Union lower the price at which European farmers can offer their output for sale on the world market, which lowers the price in the rest of the world. Faced with lower prices, farmers in other countries decrease production and receive smaller revenues.


james

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

ktidd

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Reply 3 on: Yesterday
Excellent

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