Author Question: Transaction costs increase the economic value of an exchange. Indicate whether the statement is ... (Read 63 times)

danielfitts88 · **on:** Jun 30, 2018

Transaction costs increase the economic value of an exchange.
Indicate whether the statement is true or false

Question 2

When more and more units of a variable factor are combined with constant amount of a fixed factor, such that the variable factor becomes abundant compared to the fixed factor, the output will eventually:
a. increase at an increasing rate.
b. increase at a diminishing rate.
c. increase at a constant rate.
d. become constant.
e. fall to zero.