Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 12, 2024

For the principle of diminishing marginal returns to apply, a minimum of three resources is necessary only one resource should vary all resources must vary

For the principle of diminishing marginal returns to apply, a minimum of three resources is necessary only one resource should vary all resources must vary at least one resource should remain fixed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics Principles Applications and Tools

Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez

9th edition

978-0134089027, 134089022, 978-0134420684

More Books

Students also viewed these Economics questions

Question

★★★★★

Compare and contrast a line of credit and a revolving credit agreement.

Answered: 1 week ago

Question

★★★★★

What is a Nash equilibrium? Explain why a joint confession is the Nash equilibrium in the prisoners? dilemma. 2 months 18 months O months 2 months Bea-Confession Bea-No confession O months 12 months...

Answered: 1 week ago

Question

★★★★★

Susan rolls two dice and Adam rolls three dice. What is the probability (i) that they get the same number of sixes? (ii) that Susan gets more sixes than Adam? (iii) that Adam gets exactly one more...

Answered: 1 week ago

Question

★★★★★

Prepare a product- by- value analysis for the following products, and given the position in its life cycle, identify the issues likely to confront the operations manager and his or her possible...

Answered: 1 week ago

Question

★★★★★

Kidman Corp. reported the following financial statements for the year ended December 31, 2020. Balance Sheet, December 31 Difference Cash and cash equivalents Accounts receivable ..... Merchandise...

Answered: 1 week ago

Question

★★★★★

Cincinnati Supply Corp., a supplier to Kraft Foods, produces and sellis a single product, and has provided its contribution format income statement for January Q2.900 units Per unit Sales 5 226.200...

Answered: 1 week ago

Question

★★★★★

a. The owner invested $17,800 cash in the company. b. The company purchased supplies for $1,200 cash. c. The owner invested $11,400 of equipment in the company in exchange for more common stock. d....

Answered: 1 week ago

Question

★★★★★

Fara wants to buy a new smartphone and is willing to pay $800 based on her preferences and budget. She finds the phone on sale for $600, and she decides to purchase it. What does the difference...

Answered: 1 week ago

Question

★★★★★

( b ) Martha approaches Maria Swanepoel of Swanepoel Inc., an attorney at law practicing in the Pretoria East area to assist her with her claim for damages resulting from her dispute with Joseph. The...

Answered: 1 week ago

Question

★★★★★

As of November 1, 1999, the exchange rate between the Brazilian real and U.S. dollar is R$1.73/$. The consensus forecast for the U.S. and Brazil inflation rates for the next 1-year period is 3.3% and...

Answered: 1 week ago

Question

★★★★★

Polycorp plans to pay a dividend of $6 in one year time dividend are then expected to increase by $1 a year for 5 year after that they are expected to grow at 2%pa forever shareholders required...

Answered: 1 week ago

Question

★★★★★

Using economics, identify the major problem we face as individuals and as a society if we maintain a strong focus on goal setting.

Answered: 1 week ago

Question

★★★★★

Pay him, do not wait until I sign

Answered: 1 week ago

Question

★★★★★

Tell what you mean without sounding too dominant, i.e. show authority without sounding instructive

Answered: 1 week ago

Question

★★★★★

Speak clearly and distinctly with moderate energy

Answered: 1 week ago

Previous Question Next Question