The Law of Diminishing Marginal Returns States

question 88

Multiple Choice

The law of diminishing marginal returns states:

• A)As the size of a plant increases,marginal product eventually decreases.
• B)As the size of a firm's plant increases,average cost eventually decreases.
• C)As a firm uses more of a variable factor of production,with a given quantity of the fixed factor of production,the marginal product of the variable factor eventually diminishes.
• D)As a firm uses more of a variable factor of production,its average cost eventually decreases.
• E)As a firm uses more of a variable factor or production,total product eventually decreases.

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The utilization of land or property by the general public or for a public purpose, often justified for projects involving eminent domain.

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The fair market value that must be paid for property taken by the government through eminent domain.

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Speech that promotes a commercial transaction, or advertisement, which is granted protection under the First Amendment but is subject to regulation.

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The first addition to the U.S. Constitution, guaranteeing freedoms concerning religion, expression, assembly, and the right to petition.