Which of the Following Statements Regarding the Marginal Product Curve

question 51

Multiple Choice

Which of the following statements regarding the marginal product curve is FALSE?

• A) Increasing marginal returns occur only when the total product increases as the number of workers increases.
• B) Increasing marginal returns is due to greater efficiency from specialization in the production process.
• C) The law of diminishing returns applies in the short run.
• D) Along the marginal product curve, increasing marginal returns occur first and then diminishing marginal returns.

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Definitions:

Marshall McLuhan

A visionary media theorist who proposed that "the medium is the message," emphasizing the impact of media technology on human perception and society.

Papyrus

An early form of writing paper developed by the Egyptians.

Movable Type

Gutenberg’s invention that allowed individual letters or images to be moved without influencing the surrounding text.

Innis's Theories

The ideas and theories of Harold Innis, a Canadian economist and scholar known for his contributions to media theory and economic history, especially the concepts of time-biased and space-biased media.