Which of the following is a cause of diminishing marginal productivity? a.In the long run, labor gets tired as more labor gets added to the production process. b.In the short run, labor runs out of available capital as more labor gets added to the production process. c.In the short run, capital gets more expensive as you add more capital to the production process. d.In the long run, capital depreciates as more capital gets added to the production process.
Which of the following is a cause of diminishing marginal productivity? a.In the long run, labor gets tired as more labor gets added to the production process. b.In the short run, labor runs out of available capital as more labor gets added to the production process. c.In the short run, capital gets more expensive as you add more capital to the production process. d.In the long run, capital depreciates as more capital gets added to the production process.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 42P: A small company that shovels sidewalks and driveways has 100 homes signed up for its services this...
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Which of the following is a cause of diminishing marginal productivity?
a.In the long run, labor gets tired as more labor gets added to the production process.
b.In the short run, labor runs out of available capital as more labor gets added to the production process.
c.In the short run, capital gets more expensive as you add more capital to the production process.
d.In the long run, capital depreciates as more capital gets added to the production process.
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