The Production Function Displays

question 16

Multiple Choice

The production function displays

• A) increasing returns.
• B) diminishing returns.
• C) normal returns.
• D) real returns.
• E) average returns.

---

Definitions:

Social Benefits

The advantages and improvements to society and communities resulting from actions, policies, or investments, including education, health, and public safety.

Paradox Of Voting

A situation where paired-choice voting by majority rule fails to provide a consistent ranking of society’s preferences for public goods or public services.

Majority Voting

Majority voting is a voting system in which decisions are made based on the majority of votes cast, requiring more than half the votes to pass a proposal or elect a candidate.

Marginal Benefits

The extra pleasure or benefit obtained from acquiring or creating an additional unit of a product or service.