Which of the Following Is the Best Explanation of Why

question 20

Multiple Choice

Which of the following is the best explanation of why the law of diminishing returns does not apply in the long run?

• A)In the long run,firms can increase the availability of space and equipment to keep up with the increase in variable inputs.
• B)The MPP does not change in the long run.
• C)In the long run,firms have enough time to find the most qualified workers.
• D)All factors of production are fixed in the long run.

Understand the necessity and types of insurance for specific natural disasters.

Recognize the reasons and benefits behind premium discounts in insurance policies.

Understand the relationship between insurance laws and personal financial responsibility requirements.

Understand the concept of liability in both property and personal contexts within insurance policies.