Author Question: The law of diminishing returns implies that, with the quantity of capital fixed, as the use of labor ... (Read 102 times)

karateprodigy

  • Hero Member
  • *****
  • Posts: 550
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.



kkenney

  • Sr. Member
  • ****
  • Posts: 352
Answer to Question 1

B

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

For a complete list of videos, visit our video library