Diminishing Marginal Returns Occurs When

question 114

Multiple Choice

Diminishing marginal returns occurs when

• A) each additional unit of a variable factor adds less to total output than the previous unit, given constant quantities of other factors.
• B) each additional unit of a variable factor adds more to total output than the previous unit, given constant quantities of other factors.
• C) each additional unit of a variable factor diminishes total output, given constant quantities of other factors.
• D) each additional unit of a variable factor adds a constant amount to total output than the previous unit, given diminishing quantities of other factors.

Understand the effects of sample size and confidence levels on the margin of error and confidence intervals for population means and proportions.

Grasp the concept of level of significance (α) and its relation to confidence levels.

Comprehend how sample size influences the degrees of freedom in a t-distribution.

Distinguish the factors that affect the margin of error in confidence intervals and the computation of sample sizes for such intervals.

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