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.
Diminishing and disappearing populations.
Romanesque capital showing Samson and the lion (13th century).
The strange situation. The Strange Situation features a series of episodes in which (a) the mother l
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Natural Capital versus GDP per Capita
An educational institution has total direct labor and material costs of $1964 per student. Its ...