Author Question: I'm tired of eating muffins for breakfast. Today I am trying a bagel. This statement most clearly ... (Read 19 times)

WWatsford · **on:** Jun 30, 2018

I'm tired of eating muffins for breakfast. Today I am trying a bagel. This statement most clearly reflects the:
a. ceteris paribus condition.
b. the law of supply.
c. law of diminishing marginal utility.
d. law of comparative advantage.

Question 2

The marginal revenue product curve of a factor is negatively sloped because:
a. the additional revenue generated from an additional unit of a factor remains constant as more resources are hired.
b. the additional revenue generated from an additional unit of a factor declines as more resources are hired.
c. the additional revenue generated from an additional unit of a factor usually becomes zero as more resources are hired.
d. the additional revenue generated from an additional unit of a factor increases as more resources are hired.
e. the additional revenue generated from an additional unit of a factor doubles every time new resources are hired.