Assume Labour Is the Only Factor of Production in a Competitive

question 69

Multiple Choice

Assume labour is the only factor of production in a competitive product market.If there are increasing returns to scale then:

• A)marginal product of labour is constant
• B)marginal product of labour is decreasing
• C)marginal product of labour is increasing
• D)we cannot say without more information

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Definitions:

Freudian Therapist

A psychotherapist who follows the principles of Sigmund Freud, emphasizing the influence of the unconscious mind, childhood experiences, and defense mechanisms on behavior.

Behavioral Problem

An issue reflected through actions that are outside expected norms, often indicating underlying psychological or emotional distress.

Weight Problem

Issues related to being over or under the optimal weight, often affecting physical health, mental well-being, and societal perceptions.

Freudian Theory

A set of psychological theories and therapeutic methods developed by Sigmund Freud, focusing on unconscious motives and conflicts.