This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a firm is experiencing diminishing marginal returns to labor, which of the following must be ... (Read 48 times)

folubunmi

  • Hero Member
  • *****
  • Posts: 524
on: Jun 30, 2018
If a firm is experiencing diminishing marginal returns to labor, which of the following must be true?
 a. The first workers the firm hired were better than the workers hired later on.
  b. The firm is experiencing decreasing returns to scale.
  c. The positive effect of specialization in production is being offset by the negative effect of crowding of inputs.
  d. Output is decreasing.
  e. The firm should buy more nonlabor inputs.

Question 2

The law of diminishing returns explains why
 a. monopolies have a guaranteed profit margin
  b. short-run MC and AVC curves are U-shaped
  c. the production possibilities curve is bowed out
  d. long run supply curves are downward sloping
  e. total product is a straight line


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yasmin

  • Sr. Member
  • ****
  • Posts: 319
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

B


folubunmi

  • Member
  • Posts: 524
Reply 2 on: Jun 30, 2018
Wow, this really help

billybob123

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Stages of Labor Stages of Labor
Abdominal thrusts are delivered with a firm thrust into the patient’s abdomen with an upward ... Abdominal thrusts are delivered with a firm thrust into the patient’s abdomen with an upward ...
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
Marginal Products of Physical and Human Capital Marginal Products of Physical and Human Capital
Overallocation of Labor to Sector 1 Overallocation of Labor to Sector 1
Labor Labor
Video: Deglutition

For a complete list of videos, visit our video library