--%>

Problem on diminishing returns

I have a problem in economics on Problem on diminishing returns. Please help me in the following question. The principle of diminishing marginal utility is a contrast of the law of: (1) Comparative consumer benefit. (2) Diminishing returns. (3) Effective explanation. (4) Relative emulation.

Select the most appropriate option.

   Related Questions in Microeconomics

  • Q : Estimating N.I. by product by value

    Describe the steps taken in estimating N.I. by product/ value added technique? Answer: A) Classify all production units: Locate

  • Q : Increase in demand for Normal Goods

    Zelda’s purchases of bigger and more cubic zirconium rings since she got a big pay raise are an illustration of a/an: (i) Raise in demand. (ii) Raise in quantity demanded. (iii) Raise in supply. (iv) Deterioration of the tastes.

    Q : Dilemma on labor monopsonist The labor

    The labor monopsonist will hire labor up to the point where the marginal: (i) Revenue product of the labor equivalents the wage. (ii) Resource cost of labor equivalents the salary. (iii) Revenue product of labor equivalents its marginal resource cost. (iv) Resource co

  • Q : Bonds and Market Interest Rates

    Increases within market interest rates are probably to be related with: (1) people’s increasing desires for vast “nest eggs” for security while they retire. (2) bursting a speculative bubble into prices for hi-tech stocks. (3) increa

  • Q : Freedom of entry and exit Typical firms

    Typical firms in an industry can’t expect to produce economic profit in the long run when the industry has: (1) decreasing costs of production as the number of firms in the industry changes. (2) market demand exceeding the minimum average variab

  • Q : Effect of percentage change in price

    Give the answer of following question. When the percentage change in price is greater than the resulting percentage change in quantity demanded: A) a decrease in price will increase total revenue. B) demand may be either elastic or inelastic. C) an increase in price

  • Q : Substitution effect of income at wage

    Glynn’s preferences in between work and leisure give in a: (i) wealth effect that exceeds the leisure consequence above point c. (ii) weak preference for working more than 40 hours per week. (iii) substitution effect that exceeds the income effect at wage rates

  • Q : Illustration of kinked demand curve

    Sarah, Courtney, Carly and Lisa sell shell necklaces. As Lisa lowers her price, Carly, Sarah as well as Courtney lower their price. If Lisa raises her price, Carly, Courtney and Sarah remain their price similar. This interaction is an

  • Q : What are the Components of capital

    Components of capital account: (i) Foreign investment (ii) Foreign loans (iii) Banking capital and other capital (iv) Monetary movements.

  • Q : Cartel Select the right answer of the

    Select the right answer of the question. We would expect a cartel to achieve: A) both allocative efficiency and productive efficiency. B) allocative efficiency, but not productive efficiency. C) productive efficiency, but not allocative efficiency. D) neither allocati