Which of the Following Is False

question 16

Multiple Choice

Which of the following is false?

• A)The total product schedule shows the total amount of output generated as the level of the fixed input increases.
• B)The marginal product of any single input is the change in total product resulting from a small change in the amount of that input used.
• C)As the amount of a variable input is increased, the amount of other fixed inputs being held constant, a point ultimately will be reached beyond which marginal product will decline. This is called diminishing marginal product.
• D)A firm never knowingly allows itself to reach the point where the marginal product becomes negative.
• E)None of the above is false.

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Definitions:

Social Barriers

Obstacles that exist within societies which prevent individuals or groups from achieving equal status or access to resources and opportunities.

Primary Labour Market

The segment of the job market that offers high-quality, well-paying jobs with benefits, job security, and opportunities for advancement.

Free Markets

Economic systems in which the prices for goods and services are determined by the open market and consumers, rather than by a central authority.

Regulated Markets

are market systems that are controlled or supervised by governmental or regulatory bodies to ensure fair practices, standards, and competition.