The Malthusian dilemma relates to marginal product in that
A) starvation can be averted only if marginal product is constant.
B) because of diminishing marginal product, the amount of food produced by each additional member of the population increases.
C) because of diminishing marginal product, the amount of food produced by each additional member of the population decreases.
D) because of diminishing marginal product, the wage falls as the population decreases.
E) because of diminishing average product, the population will not have additional capital to work with.
Question 2
Although digital storage costs have declined sharply in the past few years, many universities and companies still have limited storage space for email messages and impose a fixed limit on the amount of file storage space per user.
May we view this as a common property resource problem, and do the fixed limits resolve the problem? A) Yes, the storage space used by one person is not available to another person, and the storage limit is a type of quota that allocates the property rights to the storage space.
B) Yes, the storage space used by one person is not available to another person, and the storage limit represents a form of single-person ownership that resolves the common property resource problem.
C) No, one person's use of the storage space does not have an impact on other people, so this is not a common property resource problem.
D) This is an example of a common property resource problem, but the fixed limits on storage space do not resolve the problem.
A graphical representation of the marginal value theorem.
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