Author Question: The law of diminishing returns implies that, with the quantity of capital fixed, as the use of labor ... (Read 97 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?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

For a complete list of videos, visit our video library