Author Question: Which of the following statements describes the presence of diminishing returns? All else equal, a. ... (Read 109 times)

abern · **on:** Jul 1, 2018

Which of the following statements describes the presence of diminishing returns? All else equal,
a. Marginal product is constant as output increases
b. Marginal product is falling as output increases
c. Marginal product is rising as output increases
d. Marginal product is zero

Question 2

The disagreement value in a nonstrategic game is most closely associated with
a. opportunity costs
b. fixed costs
c. variable costs
d. accounting costs