Under Diminishing Marginal Returns,as the Amount of a Variable Input

question 45

Multiple Choice

Under diminishing marginal returns,as the amount of a variable input is reduced,the marginal product of a dollar's worth of the input will

• A) exceed total product.
• B) exceed average cost.
• C) rise.
• D) fall.
• E) remain the same, but total input cost will rise.

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Definitions:

Preoperational

A stage in Piaget's theory of cognitive development, typically from ages 2 to 7, where children begin to engage in symbolic play and struggle with logic and taking the perspective of others.

Postformal Operational

A stage of cognitive development proposed to follow Piaget's formal operational stage, characterized by the ability to deal with complex, ambiguous, and contradictory information.

Personal Fable

A manifestation of adolescent egocentrism in which adolescents believe their thoughts, feelings, and experiences are more special and unique than anyone else’s, as well as the sense that they are invulnerable.

Imaginary Audience

A manifestation of adolescent egocentrism in which they assume that they are the focus of others’ attention.