When an additional unit of a variable input adds less to total product than the previous unit, the firm has:

diminishing total returns.

diminishing marginal returns and diminishing total returns.

diminishing marginal returns.

increasing returns.

The average total cost of producing electronic calculators in a factory is $30 at the current output level of 220 units per week.

A monopoly: a. always makes a profit. b. can force consumers to purchase what it is selling. c. is characterized by a single seller who produces a well-defined product for which there are no good substitutes. d. always has naturally created barriers.

Suppose that corn farmers want to increase their total revenue. Knowing that the demand for corn is inelastic, corn farmers should a. plant more corn so that they would be able to sell more each year. b.

In construction When concrete is placed the free fall distance should not exceed what?

What percentage of the US workforce was estimated, as of 2011, to work in agriculture-related positions?

During discussions relating to the formation of kingfisher, seth mentions that he may be interested in either (1) just selling all of his inventory in the current year for its fair market value of $96,000 or (2) proceeding with his involvement in

What is a disadvantage of government bonds? a) they have a high intrest rate b) They are difficult to find c) They are relatively risk-free d) all of the above

The Sedgwick Company estimates sales of a new product at 5,000 units and $3.00 per unit. Management feels the sales quantity is accurate within a 10 percent plus-or-minus range while the sales price is accurate within a 5 percent plus-or-minus range.

The actual cost of direct labor per hour is $ 11.00 and the standard cost of direct labor per hour is $ 9.50. The direct labor hours allowed per finished unit is 0.25 hour.

A large oil company is studying the number of gallons of gasoline purchased per customer at self-service pumps. The mean number of gallons is 10.0, with a standard deviation of 3.0 gallons. The median is 10.75 gallons.