Rocks, Leaves, and Glass Shards Would Not Make Good Mediums

question 5

Multiple Choice

Rocks, leaves, and glass shards would not make good mediums of exchange because they lack which of the following key characteristics?

• A) portability
• B) durability
• C) scarcity
• D) divisibility

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Definitions:

Returns to Scale

Describes how a firm's output changes as inputs are increased proportionately.

Decreasing

A process or trend of becoming smaller or less in amount, size, degree, or value.

Lagrange Multipliers

A method used in optimization to find the maximum or minimum of a function subject to constraints.

Marginal Cost of Production

Another term for Marginal Cost, emphasizing the specific focus on production expenses.