A firm faces diminishing returns when its
Total output diminishes
Average output diminishes
Marginal output diminishes
Marginal revenue diminishes
Correct answer is C
No explanation has been provided for this answer.
Every economy requires an accurate census because it assist in
Solving inflation problem
Providing a sound framework for policy formulation
Stimulating economic activities in the national economy
Solving unemployment problem
Correct answer is B
No explanation has been provided for this answer.
Lowest point
Middle point
Maximum point
Downward slopping section
Correct answer is A
No explanation has been provided for this answer.
In a mixed economy, decisions to produce are taken by
Men and women acting in their own best interest
The government acting in the interest of the country
The market women, the labour unions and the employers association
Private individuals, organization and the government
Correct answer is D
No explanation has been provided for this answer.
6.00 tonnes
5.68 tonnes
0.60 ton
0.57 ton
Correct answer is B
No explanation has been provided for this answer.