When Diminishing Returns to Labor Begins

question 127

Multiple Choice

When diminishing returns to labor begins,

• A)average total cost starts to rise.
• B)total costs start to rise.
• C)variable costs start to rise.
• D)marginal cost starts to rise.
• E)average variable costs start to rise.

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Definitions:

F Test

A statistical test used to determine if there are significant differences between the variances of two or more groups.

ANOVA

Analysis of Variance, a statistical method used to compare the means of three or more samples to determine if at least one of the means is significantly different from the others.

T Test

A statistical test used to determine if there is a significant difference between the means of two groups.

Independent Variable

The variable in an experiment that is manipulated to observe its effect on the dependent variable.