The law of diminishing marginal returns says that as the firm uses more of ________, with a given quantity of ________, the ________ product of the variable input eventually diminishes.
A) a fixed input; variable inputs; marginal
B) all inputs; capital; average
C) a variable input; fixed inputs; average
D) a variable input; fixed inputs; marginal
Question 2
An example of the principal-agent problem is when
A) managers try to cope with employees that are inefficient.
B) proprietors don't receive any money payment for their entrepreneurial skills.
C) managers devise penalties that eliminate employee waste.
D) managers devise incentives that encourage employees to act in the owner's behalf.
A graphical representation of the marginal value theorem.
Rebound Tenderness, Apply Firm Pressure to the Abdomen
Greet a First-Time Client With a Firm Handshake.
Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact.
Firm handshake
Marginal Products of Physical and Human Capital