1. The Law of Decreasing Marginal Products and the Law of Cooperating Factors are similar in that they both

involve situations in which increasing the quantity of an input fails to cause the quantity of output to increase.

predict that a particular type of marginal product will decrease over time.

involve the relationship between the marginal product of an input and the initial quantity of an input.

involve increasing the quantities of all the different types of inputs at the same time.

2. If y=f(x1,x2,...,xn) is used as a mathematical representation of a production functionthen y represents the quantity of _______________ and x3 represents the quantity of the _______________ .

inputs, third type of output

managerial input, third type of physical input

output, third type of input

labor, third type of capital input