--%>
Assignment Help - homework help

Law of diminishing returns for a good

The point is inevitably reached where an individual derives less extra enjoyment from the extra units of any good. This is mainly well-suited with: (i) Supply curves that slope-up and to right. (ii) Concave (or bowed out) production possibilities frontiers. (iii) The law of diminishing returns. (iv) Adam Smith’s principle of the satiation. (v) Law of comparative consumer benefit.

Choose the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Protect monopolistic firms by barriers

    Barriers to entry which may protect monopolistic firms through losing market power across time do not comprise: (i) legal or regulatory barriers. (ii) artificial barriers. (iii) collusive barriers. (iv) strategic barriers. (v) natural

    		•
  • Q : Instance Diminishing Marginal Utility

    Assume that you were permitted to eat as many ‘free’ jelly beans as you want at present. Subsequent to a few, you start to eat more slowly and to select some flavors over others. You might ultimately stop eating a ‘free’ and enjoyable good sinc

    		•
  • Q : Perfect Equality of Income Distribution

    A Lorenz curve which is identical to a 45 degree line by the origin indicates as: (w) perfect equality of income distribution. (x) complete inequality of income distribution. (y) unitarily elastic supplies of labor. (z) which poverty is prevalent.

    		•
  • Q : Money as a yardstick of standard measure

    Normal 0

  • Q : Theory of microeconomic game in market

    The theory of market structure which several microeconomic game theorists were ready to toss within the dustbin of intellectual history into the 1970 year but that, in the early 1980s, turned into a foundation for the “new&rdquo

    		•
  • Q : Positively sloped long run industry

    A purely competitive industry produces a positively-sloped long-run industry supply curve when the industry: (i) includes only firms which experience diseconomies of scale. (ii) is an increasing cost industry. (iii) experiences technological advances

    		•
  • Q : Meaning of surplus in current price I

    I have a problem in economics on Meaning of surplus in current price. Please help me in the following question. The surplus of potting soil signifies that the current price: (1) Makes an surplus demand. (2) Is above the equilibrium. (3) Surpasses the

    		•
  • Q : Determine demand curve for

    A tax will be forward-shifted totally when the demand curve is: (w) downward sloping and the supply curve are horizontal. (x) horizontal and the supply curve is upward sloping. (y) perfectly price inelastic and identical to the supply

    		•
  • Q : Prices and costs of investment goods

    The prices and costs of investment goods do not be likely to: (1) rise during periods of prosperity. (2) rise as demand for these goods increases. (3) fall throughout economic slumps. (4) fall as demand for these goods decreases. (5) fall as a result

    		•
  • Q : Company Unions-tools for managers Can

    Can someone please help me in finding out the accurate answer from the following question. Unions which act primarily as the tools for managers of a firm are termed as: (1) Managerial unions. (2) Company unions. (3) Wildcat unions. (4) Union-busters.

    		•