The law of diminishing returns implies that, with the quantity of capital fixed, as the use of labor rises
A) total product will fall eventually.
B) the marginal product of labor will fall eventually.
C) the total product of labor will fall below the marginal product of labor.
D) the production process will become technologically inefficient eventually.
Question 2
An expansion of the production possibilities frontier is
A) called economic growth.
B) proof that scarcity is not a binding constraint.
C) a free gift of nature.
D) something that has occurred only rarely in history.
A fixed action pattern as an example of innate behaviour.
A, Unequal pupils; B, dilated, fixed pupils.
Testing Infant’s Understanding of Quantity
Reactions in assimilation of ammonia and major fates of the fixed nitrogen
GDP and Capital per Worker, 2009
An educational institution has total direct labor and material costs of $1964 per student. Its ...