ECON 528 / ECON 528 Final Exam. Questions And Answers. A+ Graded

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ECON 528 / ECON 528 Final Exam. Questions And Answers. A+ Graded.Started on Monday, 8 October 2018, 10:05 PM State Finished Completed on Monday, 8 October 2018, 10:51 PM Time taken 45 mins 58 secs ... Marks 15.00/20.00 Grade 7.50 out of 10.00 (75%) The law of diminishing marginal returns states that increases in the variable input reduce the total product. Select one: True False The correct answer is 'False'. We should use relatively more labor if we learn that the marginal product per dollar of labor expenditures is less than a marginal product per dollar of capital expenditures. Select one: True False The correct answer is 'False'. ECON528-850-ECON528-010- 201920Question 3 Correct Mark 1.00 out of 1.00 Question 4 Correct Mark 1.00 out of 1.00 If a firm has increasing returns to scale, then increasing all inputs by 1% will increase output by more than 1%. Select one: True False The correct answer is 'True'. If production displays economies of scale, the long-run average cost curve is Select one or more: a. downward-sloping. b. below the long-run marginal cost curve. c. upward sloping. d. above the short-run average total cost curve. Your answer is correct. The correct answer is: downward-sloping [Show More]

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