Author Question: Which one of the statements is true? a. Diminishing returns is a long-run concept while decreasing ... (Read 108 times)

Mr.Thesaxman · **on:** Jul 1, 2018

Which one of the statements is true?
a. Diminishing returns is a long-run concept while decreasing returns to scale is a short-run concept.
b. Diminishing returns is a short-run concept while decreasing returns to scale is a long-run concept.
c. Diminishing returns is a both short and long-run concept while decreasing returns to scale is a short-run concept.
d. Diminishing returns is a long-run concept while decreasing returns to scale is a short and long-run concept.

Question 2

In the nonstrategic view of bargaining
a. The first-mover usually gains more
b. The second-mover usually gains more
c. The third-mover usually gains more
d. The outcome depends on which mover can commit to a strategy