21. The law of diminishing marginal returns says that as the
firm uses more than __________________ with a given amount of
_____________________, the product _________________ ultimately
decreases.
a. An input or factor of production, a variable input or factor of
production: marginal.
b. A variable input or factor of production, a fixed input or
factors of production: average.
c. All inputs or factors of production, capital, average
d. A variable input or factor of production, of fixed and marginal
inputs or factors of production.
22. The average product is the product obtained per unit of
__________________; and the marginal product is the product that an
increase of one unit ___________________.
a. Variable input or factor of production; of the input or fixed
factor of production.
b. Variable input or factor of production; variable input or factor
of production.
c. All inputs or factors of production; of all inputs or factors of
production.
d. Fixed input or factor of production; of all inputs or factors of
production.
23. Total revenue minus the sum of implicit and explicit costs
equals profit or profit ________________.
a. of opportunity
b. Deal
c. Economic
d. Normal
24. Some of the alternative ways to wash 100 shirts are:
- A Answer The Following 21 The Law Of Diminishing Marginal Returns Says That As The Firm Uses More Than 1 (19.24 KiB) Viewed 61 times
a. Companies, real estate and corporations or corporations
b. Joint-stock companies or joint-stock companies
c. Properties and companies
d. Partnerships and corporations or corporations
METHOD Capital-machine 10 A B WORK-HOURS 1 5 20 50 8 C 4 D 2