Author Question: The response of output following a natural disaster includes A) an increase in output demand and ... (Read 82 times)

OSWALD · **on:** Jun 30, 2018

The response of output following a natural disaster includes

A) an increase in output demand and an increase in output supply.
B) an increase in output demand and a decrease in output supply.
C) a decrease in output demand and an increase in output supply.
D) a decrease in output demand and a decrease in output supply.

Question 2

Which of the following is consistent with diminishing marginal returns?

a. increasing labor by 10 and output increasing 10.
b. increasing labor by 10 and output prices increase by less than 10.
c. increasing labor by 10 and the marginal product of labor increasing 10.
d. increasing labor by 10 and output increasing by less than 10.