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Author Question: If labor is a variable input in production, the law of diminishing marginal returns implies that in ... (Read 223 times)

dmcintosh

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on: Apr 19, 2019

Question 1

If diminishing marginal returns have already set in for The Picture Perfect Framing Store and the marginal product of the fifth picture framer is 20, then the marginal product of the sixth picture framer must be


◦ negative.
◦ zero.
◦ less than 20.
◦ greater than 20.

Question 2

If labor is a variable input in production, the law of diminishing marginal returns implies that in the short run


◦ labor's marginal product is constant.
◦ labor's marginal product decreases after a certain point.
◦ total product is negative.
◦ total product is negative after a certain point has been reached.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by dmcintosh on Apr 19, 2019

annierak

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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dmcintosh

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Reply #2 on: Apr 19, 2019
Thanks


annierak

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Reply #3 on: Apr 19, 2019
Welcome :)


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