Diminishing Returns Occur Because

question 40

Multiple Choice

Diminishing returns occur because

• A)Of inefficiency in the production process.
• B)Of the use of inferior factors of production.
• C)A firm increases the amount of a variable input without changing a fixed input.
• D)Of lower opportunity costs of the factors of production.

Learn about the regulations surrounding wages, hours of employment, and child labor under the Fair Labor Standards Act.

Comprehend the significance of employee privacy rights, including the contexts in which these rights are protected.

Recognize the protections offered under federal laws against workplace harassment, including sexual harassment.

Understand the obligations and defenses under employment laws related to hiring, firing, and layoffs.

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Definitions:

Nonstage Theory

A theory suggesting that development or cognition does not progress through fixed stages, but rather continuously.

Heuristics

Simple, efficient rules, learned or hard-wired by evolutionary processes, that help in making decisions, forming judgments, or solving problems.

Structural

Pertaining to the physical or logical arrangement of a system's parts.

Preoperational Stage

The second stage in Piaget's theory of cognitive development, typically occurring between ages 2 and 7, characterized by the development of language and the ability to think symbolically, yet struggling with logic or understanding the viewpoint of others.