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Author Question: I'm tired of eating muffins for breakfast. Today I am trying a bagel. This statement most clearly ... (Read 56 times)

WWatsford

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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.


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karlss

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

c

Answer to Question 2

b


WWatsford

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

AISCAMPING

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Reply 3 on: Yesterday
:D TYSM

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