Diminishing returns to labor causes marginal product to:

by hiaja | Jul 4, 2023 | Quiz

Diminishing returns to labor causes marginal product to: increase. become infinite. decrease. remain...

Increased specialization of workers causes decreasing returns to scale

by hiaja | Jul 4, 2023 | Quiz

Increased specialization of workers causes decreasing returns to scale. This is _____....

The total cost curve has a negative slope because of diminishing returns.

by hiaja | Jul 4, 2023 | Quiz

The total cost curve has a negative slope because of diminishing returns. This is _____....

If long-run average total cost declines when output is increasing, then the cost curves exhibit:

by hiaja | Jul 4, 2023 | Quiz

If long-run average total cost declines when output is increasing, then the cost curves exhibit: decreasing returns to scale. zero returns to scale. increasing returns to scale. constant returns to...

Marginal cost is:

by hiaja | Jul 4, 2023 | Quiz

Marginal cost is: variable cost divided by output. fixed cost divided by output. total cost divided by output. the change in total cost divided by the change in...

Which measure of cost remains unchanged even as more is produced?

by hiaja | Jul 4, 2023 | Quiz

Which measure of cost remains unchanged even as more is produced? total Cost marginal cost fixed cost variable...