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Author Question: The closer the exchange price is to the valuation of the buyer, the greater the buyer's share of the ... (Read 82 times)

ereecah

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on: Jun 30, 2018
The closer the exchange price is to the valuation of the buyer, the greater the buyer's share of the economic value created by the exchange.
  Indicate whether the statement is true or false

Question 2

Diminishing marginal returns means that as you combine more units of a variable resource with a set of fixed resources:
 a. the average physical product of the fixed inputs increases at an increasing rate.
  b. the marginal physical product of the variable input decreases.
  c. the total output decreases.
  d. the marginal physical product of the variable input increases at a constant rate.
  e. the marginal physical product of the variable input increases at a decreasing rate.


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tanna.moeller

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

F

Answer to Question 2

b


ereecah

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Reply #2 on: Jun 30, 2018
Thank you :)


tanna.moeller

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Reply #3 on: Jun 30, 2018
Happy to help you


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