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Mr. Parker sells 10 bottles of wine per weDiminishing returns to an input occur when: a. all inputs are variable. b. all inputs are fixed.
Mr. Parker sells 10 bottles of wine per weDiminishing returns to an input occur when: a. all inputs are variable. b. all inputs are fixed. c. at least one input is fixed. d. at least one input is variable.ek at $50 per bottle. He can sell 11 bottles per week if he lowers the price to $45 per bottle. The quantity effect of the sale of an additional bottle would be _______, whereas the price effect of the sale of an additional bottle would be ________. a. $45; -$50 b. $45; -$5 c. $450; -$500 d. $495; -$550
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