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Author Question: Diminishing marginal product means that ________. A) when adding extra units of a single input, ... (Read 101 times)

hubes95

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on: Jun 30, 2018
Diminishing marginal product means that ________.
 
  A) when adding extra units of a single input, output increases become smaller
  B) when adding extra units of a single input, output increases become larger
  C) when adding extra units of a single input, output declines
  D) the amount of output increases when we add more inputs
  E) none of the above

Question 2

Indifference curves describe ________.
 
  A) the relationship between current and future income
  B) the utility received by an individual consumer
  C) the relationship between utility and income
  D) productivity levels


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choc0chan

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

B


hubes95

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Reply 2 on: Jun 30, 2018
Excellent

yeungji

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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