The law of diminishing marginal product is a reason why the demand curve for labor is downward ...

The law of diminishing marginal product is a reason why the demand curve for labor is downward sloping.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 2

Creditors supply loans to sole proprietors at a high rate of interest because of:
a. their low profit expectancy from this business.
b. frequent experience of loan default.
c. their inability to call in their loans or sell them to others.
d. their general risk-averse nature.

QUESTION 3

Organizational structure can be a strategic asset if it
A) adds value.
B) adds value and can be duplicated.
C) adds value and cannot be duplicated.
D) can be franchised.

QUESTION 4

The marginal resource cost is the amount by which an additional unit of input decreases the firm's variable costs.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 5

Any form of wealth held by a sole proprietor will be factored into the terms of the loans she receives because:
a. her liability is limited.
b. her business is inseparable from her.
c. her business is too small to bear investment risks.
d. her investment decisions depend on her total output.

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The law of diminishing marginal product is a reason why the demand curve for labor is downward ...

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