Diminishing Marginal Returns- High School Version

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Business
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11th Grade - University
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Hard
Wayground Content
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary difference between fixed and variable resources?
Both fixed and variable resources change with production levels.
Neither fixed nor variable resources change with production levels.
Variable resources change with production levels, while fixed resources do not.
Fixed resources change with production levels, while variable resources do not.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At what point does the law of diminishing marginal returns begin to take effect in the pizza production example?
With the first worker
With the sixth worker
With the second worker
With the third worker
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the total output when the marginal product becomes negative?
Total output remains constant
Total output continues to increase
Total output doubles
Total output starts to decrease
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can the concept of diminishing marginal returns be applied to government policies?
More regulation always leads to more benefits
Regulation has no impact on benefits
Less regulation always leads to more benefits
Increasing regulation will eventually yield less additional benefit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is understanding diminishing marginal returns important for businesses?
It helps in determining the optimal number of workers to hire
It ensures maximum production with minimum resources
It guarantees a constant increase in output
It eliminates the need for fixed resources
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