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Author Question: When the slope of a country's production set declines, it implies: a. the production set has ... (Read 66 times)

Mr.Thesaxman

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on: Jun 30, 2018
When the slope of a country's production set declines, it implies:
 a. the production set has shrunk.
  b. the marginal cost of producing the good measured on the Y-axis has fallen.
  c. the marginal cost of producing the good measured on the Y-axis has increased.
  d. the marginal cost of producing the good measured on the X-axis has fallen.

Question 2

As long as there are fixed resources, diminishing marginal returns will never exist.
 a. True
  b. False
  Indicate whether the statement is true or false


nyrave

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

D

Answer to Question 2

False


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