If a Production Function Shows Declining Marginal Product of an Input

question 360

Multiple Choice

If a production function shows declining marginal product of an input as the quantity of the input increases, then the production function exhibits

• A) diminishing profitability.
• B) increasing returns to scale.
• C) increasing marginal product.
• D) decreasing marginal product.

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Definitions:

Meaningful Use

A set of criteria outlining how to use electronic health records effectively to improve patient care and meet specific objectives.

Medicare

In the United States, a national health insurance scheme designed for individuals who are 65 years of age or older, as well as certain younger people who have disabilities.

Medicaid

Medicaid is a government-funded program in the United States providing health insurance to low-income individuals and families.

Electronic Medical Records

Digital versions of patients' paper charts, which contain medical and treatment histories of patients.