Which of the Following Statements Is True

question 96

Multiple Choice

Which of the following statements is true?

• A)Diminishing marginal returns means that total output decreases as more of the variable inputs are employed.
• B)Diminishing marginal returns means that in order to increase output at a constant rate, the firm must add larger and larger quantities of the variable inputs.
• C)Diminishing marginal returns implies that there will never be increasing returns to scale.
• D)Diminishing marginal returns implies that the firm's profits will be shrinking as it produces more of its product.

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Definitions:

Socialism

A theory in politics and economics that promotes ownership and management of production and distribution resources by the community or the state.

Contemporary Sociology

The study of current social processes, structures, and issues, focusing on understanding how societies function and change in the modern era.

Early French Sociologist

A title referring to pioneers in the field of Sociology from France, like Emile Durkheim, who helped define and shape the discipline.

Social Factor

An element that influences societal interaction and individual behavior, such as education, family, and income.