All categories

3 years ago

The shape of the production function reflects the law of diminishing marginal product of labor.a. Trueb. False

Business

1 answer:

Anna35 [415]3 years ago

5 0

Answer: True

Explanation:

Looking at the Production Function you will notice that Output increases at different rates to input added. First output increases at an increasing rate then at a constant rate then at a decreasing rate.

This shows the concept of the Law of Diminishing Marginal returns because as more input(labor) was added, at some point the output started increasing at a decreasing rate till it gets to a point where marginal returns will be negative.

The reason for this is that each worker is now working with less capital than before (assuming capital doe not change) and so will only produce less.

You might be interested in

The insurance claims organization that offers certification as a certified medical billing specialist is the

larisa86 [58]

Medical Association of Billers is the insurance claims organization that offers certification as a certified medical Billing specialist. It is a membership organization that provides health care billing training and education, CEUs, and the cerified Medical Billing specialist (CMBS) exam.

4 0

3 years ago

One implication of the bird-in-the-hand theory of dividends is that a given reduction in dividend yield must be offset by a more

Bezzdna [24]

Answer:

False ANSWER: True o One implication of the bird-in-the-hand theory of dividends is that a given reduction in dividend yield must be ...

Explanation:

follow mw

7 0

3 years ago

Driving consists of a ______________ process that is used hundreds of times per mile traveled

abruzzese [7]

Driving consists of a <u>"decision making" </u>process that is used hundreds of times per mile traveled .

Driving a commercial vehicle requires your complete consideration since it is a decision-making process.

These decisions turn out to be second nature as an individual has all the more driving background.

While working a commercial vehicle, the driver must settle on the right choice in a brief instant. Inability to settle on the right choice can put the motoring open and the business driver in danger of damage or demise.

6 0

3 years ago

Pat shopped at Target for new summer shorts. After trying on three different brands and price comparing, he decided to buy the D

Vitek1552 [10]

Answer:

Shopping and convenience

Explanation:

Pat shopped at Target for new summer shorts. After trying on three different brands and price comparing, he decided to buy the Dockers shorts. While heading to the checkout stand, he spotted earphones hanging on the endcap of the electronics area. Remembering he needed new earbuds for his iPod, he grabbed a set and paid for it all at the checkout counter. What types of product categories did Pat experience in this shopping trip

Pat experience shopping and convenience product categories; the dockers shorts is the shopping product while the ear phone is the convenience product.

Shopping products are types of products categories in which a consumer takes his or her time to deliberate, research, compared on a product before they decided to buy the said product while convenience product is one that required no deliberation, the are usually routine products.

5 0

3 years ago

The ______ viewpoint regards the organization as arrangements of interrelated parts that operate together to achieve a common pu

timurjin [86]

Answer:

Classical

Explanation

Classical view point in management is very essential because it brings about increase in productivity, it involves making use of scientific method as well as job specialization among the employee to achieve common goal of the organization.

It should be noted that Classical viewpoint regards the organization as arrangements of interrelated parts that operate together to achieve a common

3 0

3 years ago