Which of the Following Curves Should One Look at to Observe

question 109

Multiple Choice

Which of the following curves should one look at to observe the law of diminishing marginal returns?

• A)the average fixed cost curve
• B)the total fixed cost curve
• C)the marginal physical product curve
• D)the long run average total cost curve

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Definitions:

Basic Assumption

A fundamental belief or principle that is accepted as true without need for proof, underlying the basis of an argument or theory.

Material Effect

An impact significant enough to influence a decision, outcome, or valuation, often used in legal and financial contexts.

Rescind

means to revoke, cancel, or repeal a contract, decision, or agreement.

Future Transactions

Predicted or planned financial dealings that will take place at a later date.