Does the law of diminishing returns apply to capital as well as labor? Explain why or why

Question:

Does the law of diminishing returns apply to capital as well as labor? Explain why or why not.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

See More Books

Question Posted: Dec 15, 2015 07:13 AM

See More Questions

What is the relationship between the accuracy of time standards and production control? Does the law of diminishing returns apply?
Suppose you set up a lawn mowing service and recruit friends to help you. Would the law of diminishing returns apply? Explain.
Complete the table directly below by calculating marginal product and average product. Plot the total, marginal, and average products and explain in detail the relationship between each pair of...
Ito calculus and Ito's Lemma. Suppose dZ is the increment of a Wiener process and dX = (X(t), t)dt + o(X(t), t)dZ. (a) If F(X,t) = e"X, what is dF(X,t) (interpreted in the sense of Ito calculus)? (b)...
To determine whether a metal lathe that produces machine bearings is properly adjusted, a random sample of 25 bearings is collected and the diameter of each is measured. a. If the standard deviation...
Using the data in Problem 20, calculate a. The expected overall payoff of each bank. b. The standard deviation of the overall payoff of each bank. In Problem 20, Consider two local banks. Bank A has...
Find the appropriate values of n, and n2 (assume n, = n2) needed to estimate (p, - p,) with: a. A bound on the error of estimation equal to 3.2 with 95% confidence. From prior experience it is known...
The following information pertains to Worthy Tours: 1. Cash balance per bank, July 31, $7,263. 2. July bank service charge not recorded by the depositor $28. 3. Cash balance per books, July 31,...
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: (Indicate the effect of each variance by selecting "F" for favorable, "U" for...
For the past several years, Samantha Hiogan has operated a part-time consulting business from her home. As of July 1, 20Y9, Samantha decided to move to rented quarters and to operate the business,...
What are the shapes of the AVC curve and the ATC curve and why do they have these shapes?
What does a firms LRAC curve show? How is it related to the firms short-run ATC curves?
The following are a condensed income statement for 2007 and a December 31, 2007 balance sheet for the Allen Company: Additional information: The corporate common stock was outstanding the entire year...
2. Question 2 When preparing a financial spread analysis, what should be done when the financial statement captions don't align with those provided in the spread template? 1 point Conform the...
Your company just secured an $6 million contract with a major public-sector client that is expected to generate thousands of jobs over the next 10 years. Describe the scenario as a blog.
Dr. John Gottman's research has been able to accurately predict divorce more than 90% of the time.By carefully studying how couples interact with each other, he identified what are known as "The Four...
Adult Sleep Times (hours) of sleep for randomly selected adult subjects included in the National Health and Nutrition Examination Study are listed below. Here are the statistics for this sample: n =...
For high-energy electron diffraction in a TEM, another estimate of the precision of diffraction angles can be provided by the uncertainty principle: px We do not know the specific plane that scatters...
Which one of the following statements is true? a) The South is the most heavily unionized section of the country. b) There are very few right-to-work states in the South. c) New York is the most...
A random sample of 10 houses heated with natural gas in a particular area, is selected, and the amount of gas (in therms) used during the month of January is determined for each house. The resulting...
Evaluate strategic alternatives to managing operating exposure
How are goods and services produced in the global economy? A. Developing countries use less human capital but just as much physical capital as advanced economies. B. Emerging economies use more...
Which of the following statements is correct? A. Labor earns wages and entrepreneurship earns bonuses. B. Land earns interest and capital earns rent. C. Entrepreneurship earns interest and capital...
What is human capital? A. A fruit picker B. Unskilled labor C. Your professors knowledge of the economy D. An auto assembly line robot
Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining as well as offering take-out and free home delivery services. The pizzerias owner has determined that the shop...
Which of the following statement regarding a post-closing trial balance is not true
What are the benefits and potential risks factors for undertaking derivative strategies compared to cash transactions

Does the law of diminishing returns apply to capital as well as labor? Explain why or why

Question:

Step by Step Answer:

The law of diminishing returns applies to capital as well as labor The marginal product of capita...View the full answer

Microeconomics

Students also viewed these Economics questions