Enter the Number 1

question 3

Multiple Choice

Enter the number 1.6 in your calculator and repeatedly take the square root. What number does the display appear to be approaching?

• A)1
• B)0
• C)1.6
• D)2.56
• E)The display is not approaching a number.

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Definitions:

Diminishing Returns

A principle stating that the addition of more of one factor of production, holding all else constant, will at some point yield lower incremental per-unit returns.

Marginal Product

The additional output resulting from the use of one more unit of a variable input, holding other inputs constant.

Cookie Production

The process of baking cookies, which involves mixing ingredients according to a recipe, shaping, and then heating them in an oven until done.

Marginal Productivity

The additional output produced by employing one more unit of a specific factor of production, holding other factors constant.